Financial Market Development Program Subprogram 1 (ADB-51252-003)

Countries
  • Bhutan
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 Bhutan
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 30.00 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 Aug 21, 2019

Disclosed by Bank Aug 1, 2019


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Project Description

According to the bank website, "The proposed Financial Market Development Program will support the Government of Bhutan in adopting reforms to enhance the efficiency, stability, and inclusiveness of the finance sector. The proposed program will consist of two subprograms designed to provide continuous support for the government's finance sector reforms. The program outputs include (i) nonbank financial system developed; (ii) stability and integrity of the financial system strengthened; and (iii) financial inclusion promoted."

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Responsible ADB Officer Kanokpan Lao-Araya
Responsible ADB Department South Asia Department
Responsible ADB Division BHRM
Executing Agencies Ministry of Finance
Royal Government of Bhutan
Thimphu, Bhutan
Attention: Director

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