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The Asian Development Bank and Private Sector Development: Insurance Sector

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):

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The Asian Development Bank and Private Sector Development: Insurance Sector

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

  2. Organization Private Sector Operations (Non-Government guaranteed): = Private Sector Operations Department (PSOD) Public Sector (Government guaranteed): = Central and West Asia Department (CWRD)

  3. 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

  4. 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.

  5. Products and Services • Equity Investments • Loans • Guarantees • B Loan (Complementary Financing Scheme)

  6. ADB activities in Uzbekistan: Insurance sector • 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. • 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.

  7. 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

  8. (http://www.adb.org/tradefinance)

  9. 2010-2012 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.

  10. Thank you Uzbekistan Resident MissionAsian Development BankTel: +998 71 1401920-25Fax: +998 71 1401976www.adb.org/urm

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