The Asian Development Bank and Private Sector Development
The Asian Development Bank and Private Sector Development: Insurance Sector Bobir Gafurov, URM, ADB
Organization Private Sector Operations (Non-Government guaranteed): = Private Sector Operations Department (PSOD) Public Sector (Government guaranteed): = Central and West Asia Department (CWRD)
Private Sector Projects Infrastructure: – power (e. g. generation, transmission, distribution) - focus on renewable power – transportation (e. g. roads, ports, railways, airports) – water supply and waste treatment – oil & gas infrastructure – telecommunications
Private Sector Projects (cont’d) Capital Markets and Financial Sectors: – financial institutions – investment funds Projects should have a significant development impact, and stimulate private investment.
Products and Services • Equity Investments • Loans • Guarantees • B Loan (Complementary Financing Scheme)
ADB activities in Uzbekistan: Insurance sector v Institutional Capacity Building – TA 3488 -UZB: Development of the Insurance Industry, (2000 -2002) for $300, 000, • helped to strengthen insurance sector legislation, regulation, and supervision. – (i) strengthening the legal and regulatory framework by bringing regulations in line with international – standards and best practice; – (ii) upgrading the institutional capacity of Gosstrakhnadzor to ensure adequate supervision of insurance companies; and – (iii) developing a MIS for Gosstrakhnadzor. v Other linked activities – TA 5465 -UZB: Financial Sector Infrastructure Development (2005 -2007) for $400, 000 • assisted in analyzing financial sector issues and advising on strategy to address them.
ADB’s work in other countries v Insurance Sector – Capacity building for insurance market supervision – Development of policy, regulatory and legal framework in emerging insurance markets of DMCs – Support of pro-poor insurance products and markets (microinsurance) – Support to development of ECA v Related activities: Trade Finance Facilitation Program
(http: //www. adb. org/tradefinance)
2010 -2012 Planned activities in Insurance v Technical Assistance: Capacity Development for Insurance Market Supervision (CDTA) – To support development of greater supervisory capacity, in an insurance market – Expected outcomes: • revisions to the insurance sector oversight framework (policy, legal and regulatory) • adoption of a comprehensive action plan for sector development.
Thank you Uzbekistan Resident Mission Asian Development Bank Tel: +998 71 1401920 -25 Fax: +998 71 1401976 www. adb. org/urm
- Slides: 10