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Claudia Buentjen Funders Panel
 

Claudia Buentjen Funders Panel

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    Claudia Buentjen Funders Panel Claudia Buentjen Funders Panel Presentation Transcript

    • ADB Financial Intermediation Lending ADFIAP 6th International Forum for Chief Executives of Development Finance Institutions 29 October 2009 by Dr. Claudia Buentjen Philippines Country Office Asian Development Bank
    • Financial Intermediation Lending (FIL) To finance specific development projects whose individual financing requirements are not large enough to warrant direct supervision of ADB (ADB Charter)
    • Key Modalities ADB funds are on-lent to final borrowers by eligible participating Financial Intermediaries (FIs) at the FI’s credit risk (credit lines to individual FIs) ADB funds are on-lent to apex financial institutions which make funds available to participating FIs, including commercial banks (development finance loans)
    • Objectives of Public Sector Credit Lines expand access to credit for sectors and groups of borrowers that would otherwise be excluded from borrowing enable new technologies, expand access to infrastructure, help create employment strengthen the capacity, governance, and sustainability of participating FIs
    • Volume of ADB Lending for Public Sector Credit Lines Volume of lending (in million US $) 1968–1990 1991–2007 1968–2007 Credit Lines 3,498.6 (11.3%) 1,075.0 (1.2%) 4,573.6 (3.8%) Total public 31,075.4 88,947.4 120,002.8 sector lending Downward trend since the early 90s
    • Success Factors of Public Sector Credit Lines stable macroeconomic conditions solid management capacities of FIs stronger financial sectors, including competition policies good legal and regulatory regimes for financial institutions mostly market-determined interest rates
    • Safeguard Policy New Provisions for FIs Dab's new safeguard policy statement June 2009) replaces the Involuntary Resettlement Policy (1995) Policy on Indigenous People (1998) Environmental Policy (2002) includes special provisions for FIs to ensure that ADB’s safeguard standards are met
    • Safeguard Policy, cont. ADB assesses the potential of environmental and social impacts and risks associated with the FI’s existing and likely future portfolio FIs commitment and capacity in social and environmental management If social or environmental risks are identified, FIs will have to document and agree with ADB an environmental and social management system (ESMS) and submit periodic reports to ADB
    • Safeguard Statement, cont. FIs will apply the prohibited investment activities list to subprojects financed by ADB and ensure that their investments are in compliance with applicable national laws and regulations For subprojects with significant environmental or social impacts FIs will refer these subprojects to ADB early. ADB will assist the FI with the appraisal for these subprojects.
    • Recent Trends use of other modalities such as program- based lending to strengthen industrial and financial sectors limit use of credit lines for countries that have acute shortages of long-term resources for funding investment use credit lines solely on the provision of long-term local currency resources preferably to the private sector
    • Thank you www.adb.org/philippines/ To register for our e-newsletter, and other information on the ADB-Philippines partnership