Original disclosure @ ADB website
Updated in EWS Aug 31, 2020
Disclosed by Bank Aug 25, 2020
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According to the bank's website, "The Financial Market Development Program (FMDP) is a series of interventions designed to develop the financial markets of Bhutan using the modality of a Policy Based Loan (PBL) with programmatic approach. The program identified three selected areas as outputs to address identified causes to solve the core problem of efficient financial intermediation, viz improved non-banking financial sector, strengthened stability and integrity of the financial system and improved financial inclusion. The project has three subprograms (SP) with linked policy actions. Following on what has been achieved in the previous program and discussions with the government , new areas were added under a SP3 within the same FMDP. SP1 has already been delivered. We ae seeking board approval for SP2 which was outlined at the time of SP1, and the additional SP3. A revised post program engagement framework too has been included to ensure the sustainability and continued success of the policy actions."
Responsible ADB Officer Gunawardhena, Manohari
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies Ministry of Finance
Royal Government of Bhutan
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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.