This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Fourth Financial Sector Program (ADB-44263-012)

Countries
  • Cambodia
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
Canceled
Bank Risk Rating
U
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
Nov 6, 2013
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.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Disclosed by Bank Nov 22, 2013


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Project Description
DESCRIPTION The PPTA will help the Government implement the FSDS 2011-_2020 to reflect progress to 2013 and identify gaps and/or challenges within the financial sector that need to be addressed during 2011_2020. The key outputs of the TA will be (i) the detailed implementation assessment of the FSDS 2011-2020 to date, and (ii) a report of the sector diagnostic review with a medium-term program of reforms for FSP IV. The TA is estimated to cost $880,000 equivalent, of which $800,000 will be financed on a grant basis from the ADB TASF. The Government will finance the remaining $80,000 equivalent that will include counterpart staff, office space and other administrative support. PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY The Government of Cambodia (Government) requested a program loan from the Asian Development Bank (ADB) during program consultations in 2012. This is in line with the priority outlined in the Government's National Strategic Development Plan (NSDP) 2011-2013 and the draft NSDP 2014_2018 as well as the country partnership strategy (CPS) for Cambodia 2011_2013.1 The development of Cambodia's financial sector is one of five core areas that best support ADB's Strategy 2020 and its goal to reduce poverty in Cambodia. Based on successful implementation of the two past and one on-going ADB Financial Sector Programs (FSP I, II and III) with effective and flexible ways of converting complex policy objectives into implementable policy actions, the Government requested continuing ADB support to the finance sector through a policy-based loan. The proposed program cluster (FSP IV) for a total of $30 million equivalent from Asian Development Fund (ADF) which will comprise two subprograms, was included in the country operations business plan (COBP) 2011_-2013. It has been designed within the framework of the Financial Sector Development Strategy (FSDS) 2011_20204 updated under FSPIII. IMPACT tbd CONSULTING SERVICES International Consulting Firm: Banking expert and team leader (6 person-months, international) Microfinance expert (2 person-months, international) Insurance and pension fund expert (2 person-months, international) Leasing expert (2 person-months, international) Capital market expert (2 person-months, international) Commercial law expert (3 person-months, international) Money and interbank market expert (2 person-months, international) Accounting expert (2 person-months, international) Anti- money laundering and combating financing terrorism (AML and CFT) National Consulting Firm: Financial sector expert (10 person-months, national) insurance expert (4 person-months, national) capital market expert (3 person-months, national) legal expert (5 person-months, national) AML and CFT expert (3 person-months, national)
Investment Description

Contact Information
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