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Asian Financial Crisis Response Trust Fund Review

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									 Asia-Europe Meeting (ASEM)
Asian Financial Crisis Response
      Trust Fund Review
                  Overview of Progress
                            6/28/2006
                 Outline
This presentation focuses on:

 Progress in portfolio implementation
 Impact of the Action Plan adopted at last
  year’s Review Meeting
 Benefits from completed grants
 Strategic coordination in the field
 Country programs
         Key Achievements

 Positive impact of the Action Plan:
  current disbursement rate is 72% and is
  estimated to reach 80-85% by end-
  December when the program closes.
 In-country steering committees have
  played proactive roles in grant
  monitoring and implementation
             The portfolio today
  ASEM TF2 Portfolio by Country as of June 2006 (million US$)




The portfolio contains:
                                               Thailand
    71 approved grants        Philippines    18% ($7.3)         Vietnam
                                                                23% ($9.2)
     totaling $39.1 million     13% ($5.2)

    39 active grants ($24.4
     million)
                                 Indonesia                         Region
    29 completed grants         17% ($6.8)          China        9% ($3.6)
     ($13.3 million)                               18% ($7.1)
              The portfolio today
  ASEM TF2 Portfolio by Sector as of June 2006 (million US$)



 Sectoral proportions                                       8.0
                                                             7.0

  vary among countries



                                  Amount (US$ Million)
                                                             6.0
                                                             5.0

 In total:                                                  4.0
                                                             3.0
    $20.3 million to financial                              2.0
     projects                                                1.0


    $18.8 million to social
                                                             0.0
                                                                     China   Indonesia   Philippines   Thailand   Vietnam   Regional
                                                         Financial    4.9       3.3          2.9         1.6        6.9       0.7
     sector projects                                     Social       2.1       3.5          2.3         5.7        2.3       2.9
              Disbursements
                   (as of June 15, 2006)



 Disbursements are                             10.0


  72 percent of the


                         Amount (million US$)
                                                 8.0

  total grant amount                             6.0


 Disbursement rates                             4.0


  vary among                                     2.0

  countries                                      0.0
                                                       China   Indonesia   Philippines   Thailand   Vietnam   Region

                       Grant Amount                     7.1       6.8         5.2          7.3        9.2      3.6
                       Disb.                            5.9       4.1         2.8          5.9        7.0      2.5
                  Procurement
                       (as of March 31, 2006)


 Procurement is          Region

  $30 million, or 77
                         Vietnam
  percent, of the
  total grant amount     Thailand


                       Philippines
 About $27 million,
                       Indonesia
  or 90 percent, is
  contracted to             China


  consultants from                   0.0         1.0             2.0              3.0             4.0          5.0          6.0

  ASEM member                                                            Am ount (m illion US$)


  countries                                Total Amount (Asia)         Total Amount (Europe)      Total Amount (Non-ASEM)
  Action Plan: Main elements

 Periodic portfolio reviews by in-country steering
  committees and World Bank
 Recognize good performers
 Scale back or cancel non-performing grants
 Strengthen capacities of weak implementing
  agencies
 Promote visibility of ASEM
    Positive impact on portfolio
Results:
 much faster implementation
 disbursements almost doubled in one year
 stronger grant monitoring by in-country steering
  committees
 regular portfolio reviews with the line agencies
 training for implementing agencies in financial
  management and procurement
                   Disbursement Data
                   (September 2004 – December 2006)



             100
                                                                          Dec-06 (80%)
             80
Percentage




                                                                    Jun-06 (72%)
             60
                                                  Oct-06 (49%)
             40
                                  Mar-05 (33%)
             20
                   Sep-04 (24%)

              0
                                   September 2004 - December 2006
   Topping up and scaling back
Based on recommendations by the ICSCs:
 China
    Four successful grants topped up
    One grant cancelled
 Indonesia
    One grant cancelled
    Two grants allowed to close as scheduled, with unused balances cancelled
 Philippines
    One grant cancelled
    Two grants allowed to close as scheduled, with unused balances cancelled
    One grant restructured
 Thailand and Vietnam
    In each country, one successful grant topped up
 ASEM TF2 has visible benefits
 Most completed grants have achieved
  clear effects on policymaking and program
  design
 In every country, several grants have
  played fundamental roles in key policy
  reforms
 Outcomes of 17 grants completed since
  October 2005 Progress Report confirm
  positive contribution of ASEM TF2
        ICSCs play active role
 Over the past year all the in-country steering
  committees, except Indonesia’s, have played
  proactive roles in grant monitoring and
  implementation
 All have stressed the positive contribution of
  ASEM TF2 to their countries’ ability to withstand
  crises and reduce poverty and vulnerability
      China program overview
 14 grants totaling $7.7 million
 5 grants completed (3 in financial/corporate sector;
  2 in social sector)
 Significant implementation progress in past 12
  months
 Proactive In-Country Steering Committee
 Disbursements now 78 percent
 Full disbursement expected by time of program
  closure
     China recent completions
 Support for restructuring and privatizing state
  enterprises, including new laws
 Reforms in insolvency law
 Analytical work to strengthen public health
  programs in rural poverty areas
   Indonesia program overview
 17 grants totaling US$ 6.8 million
 7 grants completed (3 in financial/corporate
  sector, 4 in social sector)
 1 grant cancelled
 Faster implementation progress in past 12
  months;
 GOI regularly reviews project progress
 Disbursements now 51 percent, up from 26
  percent a year ago
  Indonesia recent completions
To support community-based development:
 Built capacity of Bappenas (Central Planning
  Agency) and influenced its community
  development policies and monitoring and
  evaluation arrangements
 Provided underlying analysis for community-
  based investments in infrastructure
  Philippines program overview
 9 projects totaling $5.2 million
 3 grants completed, all in the financial/corporate
  sector
 1 grant cancelled
 Disbursements still below 50 percent, but
 Speed of implementation much improved for
  most grants
 Philippines recent completions
Strengthened the banking and corporate sectors:
 Improved the Central Bank’s IT, risk
  management, policymaking, and supervisory
  capacity
 Provided training on corporate governance
 Provided policy recommendations for enhancing
  productivity in industry
   Thailand program overview
 11 grants totaling $7.2 million
 6 grants completed (2 in corporate/governance
  sector and 4 in social sector/governance)
 Proactive ICSC
 Problems now resolved for four slow-disbursing
  projects listed in the Action Plan
 Disbursements now 74 percent
 Disbursements expected to be 98 percent by
  close of Trust Fund
   Thailand recent completions
 Helped government prepare for international
  negotiations on trade and financial liberalization
  of services
 Strengthened social protection and poverty
  alleviation programs through:
    empirical poverty studies
    overhaul of national statistical system
    stronger social service delivery
    Vietnam program overview
 17 grants totaling $9.2 million
 6 completed (2 in financial/corporate sector; 4 in
  social sectors)
 ICSC closely monitors grant closing dates
 Disbursements now 66 percent
 Disbursements expected to reach 93 percent at
  close of Trust Fund
   Vietnam recent completions
Grants have supported:
   equitization of Mekong Housing Bank, a
    state-owned commercial bank
   social safety net for workers displaced from
    state-owned enterprises
   design and preparation of Vietnam’s social
    security law
            A good outlook
Overall grant disbursement projected at
 80-85 percent at the end of the program
 (comparable to the disbursement rate of
 ASEM TF1)

Message should be conveyed to the In-
 country steering committees that they
 must to continue to play proactive roles in
 grant monitoring and implementation

								
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