This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Investment Climate Improvement Program - Subprogram 3 (ADB-41544-084)

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
Canceled
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
Jun 19, 2014
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.
Investment Amount (USD)
$ 22.00 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.
Primary Source

Original disclosure @ ADB website

Disclosed by Bank Mar 20, 2014


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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.
DESCRIPTION Subprogram 3 of the Investment Climate Improvement Program (ICIP) is the last subprogram of the program cluster approved in 2008. The program continues to address binding constraints to private investment and to sustainable economic growth and employment generation by (i) reducing the cost of regulatory compliance, (ii) improving access to finance, (iii) enhancing workers' skills, and (iv) facilitating public-private partnerships. PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY Long-term development prospects in the Kyrgyz Republic_ particularly for higher wages, employment, and profitable investment opportunities_ depend on diversifying into higher-value-added products and opening up new markets. The government still faces challenges in providing market-supporting mechanisms that foster private sector development. Among the constraints are (i) a challenging business environment that still discourages many entrepreneurs and investors from expanding, investing, or lending in the country; (ii) an increasing shortage of qualified workers that prevents firms from moving up the production ladder; and (iii) expensive, short term finance that is concentrated in few sectors. IMPACT Sustainable economic growth and employment creation CONSULTING SERVICES There will be no recruitment of consultants. The policy-based grant is to be provided in the form of budget support. PROCUREMENT There will be no procurement. The policy-based grant is to be provided in the form of budget support.
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.
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

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How it works