The Asian Development Bank and Private Sector Development: Insurance Sector Bobir Gafurov, URM, ADB.

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Presentation transcript:

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  Institutional Capacity Building –TA 3488-UZB: Development of the Insurance Industry, ( ) 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.  Other linked activities –TA 5465-UZB: Financial Sector Infrastructure Development ( ) for $400,000 assisted in analyzing financial sector issues and advising on strategy to address them.

ADB’s work in other countries  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  Related activities: Trade Finance Facilitation Program

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Planned activities in Insurance  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: Fax: