Original disclosure @ ADB website
Updated in EWS May 28, 2021
Disclosed by Bank Jun 12, 2019
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According to the bank website, "The Board of Directors approved the Supply Chain Finance Program (SCFP) on a pilot basis in November 2012 with a revolving limit of $200 million, under which ADB provides guarantees and funding through partner financial institutions (PFIs) to support developing member countries' (DMC) small and medium-sized enterprises (SMEs)1. Technical assistance of $800,000 was approved in 2013 and used primarily to engage consultants to help implement the program.2 Obligations and liabilities under the Program are to be discharged by 31 August 2018 if the program is not renewed.
This paper seeks the approval of the Board of Directors of the Asian Development Bank (ADB) for a major change in scope and amount for the Supply Chain Finance Program (SCFP or the Program). The proposed changes are derived from lessons learned during the SCFP's pilot phase, a market survey, and are aligned with the Program's developmental objectives. They are: (i) remove the program expiry date of 31 August 2018; (ii) increase the overall exposure limit from $200 million to $300 million; and (iii) broaden parameters to enhance the Program's scope and development impact by supporting innovative structures that may involve more risk."
According to the ADB website, this project is part of the bank's COVID-19 response. For more information about the ADB's COVID-19 response, please refer to: https://www.adb.org/what-we-do/covid19-coronavirus.
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Beck, Steven
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