Financial Markets Development Program (ADB-53221-001)

Countries
  • Pakistan
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
Proposed
Bank Risk Rating
C
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.
Borrower
Government of Pakistan
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 600.00 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 Sep 5, 2019

Disclosed by Bank Aug 16, 2019


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Project Description

According to the bank website, "The proposed Financial Markets Development Program will support demand and supply measures to broaden and deepen the financial system in Pakistan and ground it in a strong legal and regulatory framework in line with country partnership strategy for Pakistan (2015 2019). The program was requested by the Government of Pakistan as a policy-based lending modality to be disbursed over two subprograms. The PBL will facilitate the design and implementation of reforms that are necessary to create an enabling environment for the emergence of competitive financial markets. The programmatic approach will serve to chronologically sequence the reforms in a multiyear framework (2020-2022) and bring flexibility to incorporate changes where warranted by the country's economic situation."

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Responsible ADB Officer Syed Ali-Mumtaz H. Shah
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies Ministry of Finance
Q-Block, Finance Division,
Pak Secretariat, Red Zone, Islamabad, Pakistan

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