Preparing the Improving Financial Access and Entrepreneurship Development Project (ADB-53097-002)

Countries
  • Papua New Guinea
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Apr 30, 2020
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 Papua New Guinea
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)
Fund
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.75 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
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS May 21, 2020

Disclosed by Bank May 4, 2020

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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.

According to the bank's website, "ADB will engage consultants following ADB's Procurement Policy (2017, as amended from time to time), ADB's Procurement Regulations (2017, as amended from time to time) and the relevant staff instructions. Individual consultant selection is proposed for the recruitment of six lead international consultants to provide 52 person-months of intermittent services to design the Improving Financial Access and Entrepreneurship Development Project. The lead consultants will recruit specialist short-term consultants with required technical expertise for on-demand assignments, using the individual consultant selection method. Resource person contracts will also be considered for any immediate in-country support, including support for surveys and data collection. The requirements and lengths of the engagements will vary with the scope of work. The terms of reference for assignments by specialist consultants will be prepared by the lead consultants and submitted to the transaction TA supervising team for endorsement."

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

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.

Responsible ADB Officer Bharat, Vimlesh Vikash
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies
Bank of Papua New Guinea
Douglas St., P. O. Box 121
Port Moresby, Papua New Guinea

Department of Finance
Vulupindi Haus, P.O. Box 710
Waigani, Papua New Guinea
Department of Treasury
6/F The Treasury Building, Lamana Road
P.O Box 542, Waigani Drive, NCD
Papua New Guinea

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