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

Countries
  • Mongolia
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 26, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mongolia
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 1.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Sep 27, 2016


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Project 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
  • Asian Development Bank (ADB)
Cofinancing Republic of Korea e-Asia and Knowledge Partnership Fund US$ 0.3 million
Contact Information
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