Supporting Financial Sector Development and Stability (ADB-50017-001)

Countries
  • Mongolia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 26, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Mongolia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.25 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1.55 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 2, 2020

Disclosed by Bank Sep 27, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Government of Mongolia requested technical assistance (TA) from the Asian Development Bank (ADB) for Supporting Financial Sector Development and Stability. ADB held a fact-finding mission in February 2016 to reach an understanding with the government as to the project’s impact, outcome, outputs, implementation and financing arrangements, costs, and terms of reference for consultants. The design and monitoring framework is in Appendix 1. The TA is included in ADB’s country operations business plan, 2016 for Mongolia.

The TA’s five outputs will be (i) strengthening the government’s financial stability framework, (ii) enhancing the financial consumer protection framework, (iii) promoting the sound and sustainable development of SCCs, (iv) identifying an effective NPL resolution mechanism, and (v) improving the disaster risk insurance sector’s risk management capacity. ADB has previously supported building a resilient financial system and strengthening financial regulatory regimes through policy recommendations and capacity development. The proposed project would reinforce ADB’s efforts to promote sound financial sector development, and the TA is consistent with ADB’s country partnership strategy for Mongolia, 2012–2016 and interim country
partnership strategy, 2014–2016.

CONSULTING SERVICES

The consultants 8 international (35 person-months total) and 5 national consultants (26 person-months total) will be individually selected and engaged on a lump sum basis by the Asian Development Bank (ADB) in accordance with its Guidelines on the Use of Consultants (2013, as amended from time to time)

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Cofinancing
Republic of Korea e-Asia and Knowledge Partnership Fund US$ 0.3 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Ministry of Finance
Government Building-2
Negdsen Undestnii gudamj-5/1
Ulaanbaatar-210646, Mongolia

ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

How it works

How it works