Original disclosure @ ADB website
Updated in EWS Jul 2, 2020
Disclosed by Bank Sep 27, 2016
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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.
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)
Republic of Korea e-Asia and Knowledge Partnership Fund US$ 0.3 million
Ministry of Finance
Negdsen Undestnii gudamj-5/1
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