Developing Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Approaches, Meth (ADB-50258-001)

Countries
  • Bhutan
  • Mongolia
  • Papua New Guinea
  • Philippines
  • Tajikistan
  • Vietnam
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
Approved
Bank Risk Rating
A
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
Dec 15, 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
Regional
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 29, 2019

Disclosed by Bank Jan 3, 2017


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Project Description

According to ADB website, the TA will support the banking and finance sectors in developing member countries (DMCs) of the ADB to improve the implementation of anti-money laundering and combating the financing of terrorism regulatory measures, and strengthen the capacity of domestic banks and nonbank financial institutions to comply with the requirements of the Financial Action Task Force (FATF). The impact of the TA will be that the legal and institutional systems to combat money laundering and the financing of terrorism are established and implemented effectively.

It is aligned with the ADB policy on combating money laundering and the financing of terrorism, which calls on ADB to:
1. Assist DMCs in establishing and implementing effective legal and institutional systems to combat money laundering and the financing of terrorism
2. Increase collaboration with other international organizations, and (iii) strengthen internal controls to safeguard ADB funds.

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Project Officer: Syquia, Jose Luis C.
AIOD, ADB
No contact information provided at the time of disclosure.

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