Myanmar Financial Sector Development Project

Abstract*

The development objective of Financial Sector Development Project for Myanmar is to expand access to finance in Myanmar and, in the event of an Eligible Crisis or Emergency, to provide immediate and effective response to such Eligible Crisis or Emergency. This project has five components. 1) The first component, Reform of State-owned Banks, aims to build a more competitive financial sector by reforming and reducing distortions created by state owned... Show More

Development Objective

To expand access to finance in Myanmar and, in the event of an Eligible Crisis or Emergency, to provide immediate and effective response to such Eligible Crisis or Emergency.

Key Details

Project Details

Project ID
P154389
Status
Closed
Team Leader
Smita Wagh , Radu Tatucu, Nang Htay Htay
Borrower 2
Ministry of Planning, Finance and Industry

Country
Myanmar
Disclosure Date
April 27, 2015
Approval Date
(as of board presentation)
December 20, 2016
Effective Date
June 27, 2017

Total Project Cost 1
US$ 100.00 million
Implementing Agency
Central Bank of Myanmar,The Republic of the Union of Myanmar
Region
East Asia and Pacific
Fiscal Year 3
2017

Commitment Amount
US$ 100.00 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2022

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
July 16, 2024

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Infrastructure and Access55%
- FY17 - Credit Infrastructure39%
- FY17 - Financial inclusion39%
- FY17 - Payment & markets infrastructure55%
FY17 - Financial Stability84%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring84%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	100.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	100.00
IBRD + IDA Commitment	100.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	100.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Dec 15, 2018	IDA-59300	Int Charges	10,133.08
Dec 15, 2018	IDA-59300	Int Charges	10,133.08
Dec 17, 2018	IDA-59300	Loan Disb	66,000.00
Sep 25, 2018	IDA-59300	Loan Disb	200,000.02
May 7, 2019	IDA-59300	Loan Disb	100,000.00
Jul 9, 2019	IDA-59300	Loan Disb	150,000.02
Jun 15, 2019	IDA-59300	Int Charges	143.09
Jun 15, 2019	IDA-59300	Int Charges	143.09
Jun 15, 2019	IDA-59300	Int Charges	384.00
Jun 15, 2019	IDA-59300	Int Charges	384.00
Jun 15, 2019	IDA-59300	Int Charges	10,694.00
Jun 15, 2019	IDA-59300	Int Charges	10,694.00
Jun 15, 2019	IDA-59300	Int Charges	170.00
Jun 15, 2019	IDA-59300	Int Charges	170.00
Mar 11, 2019	IDA-59300	Loan Disb	93,000.01
Nov 6, 2019	IDA-59300	Loan Disb	5,000,000.00
Sep 26, 2019	IDA-59300	Loan Disb	1,477,800.00
Jul 23, 2019	IDA-59300	Loan Disb	6,400,000.00
Mar 9, 2020	IDA-59300	Loan Disb	100,000.00
Dec 15, 2019	IDA-59300	Int Charges	21,740.76
Dec 15, 2019	IDA-59300	Int Charges	21,740.76
Dec 15, 2019	IDA-59300	Int Charges	11,761.55
Dec 15, 2019	IDA-59300	Int Charges	11,761.55
Dec 15, 2019	IDA-59300	Int Charges	20.24
Dec 15, 2019	IDA-59300	Int Charges	20.24
May 26, 2020	IDA-59300	Loan Disb	1,100,000.00
Jun 15, 2024	IDA-59300	Int Charges	393.31
Jun 15, 2024	IDA-59300	Int Charges	393.31
Jun 15, 2024	IDA-59300	Int Charges	73,341.58
Jun 15, 2024	IDA-59300	Int Charges	73,341.58
Dec 20, 2016	IDA-59300	Loan Commitment	100,000,000.00
Dec 28, 2023	IDA-59300	Loan Repay	1,479,172.50
Dec 28, 2023	IDA-59300	Int Charges	689.13
Dec 28, 2023	IDA-59300	Int Charges	689.13
Dec 28, 2023	IDA-59300	Int Charges	46,720.78
Dec 28, 2023	IDA-59300	Int Charges	46,720.78
May 14, 2024	IDA-59300	Loan Disb	-6,717,549.00
Apr 11, 2024	IDA-59300	Loan Disb	-19,006.56
Jun 15, 2024	IDA-59300	Int Charges	37,360.22
Jun 15, 2024	IDA-59300	Int Charges	37,360.22
Jun 15, 2024	IDA-59300	Loan Repay	1,476,146.10
Oct 6, 2022	IDA-59300	Loan Disb	-723,947.25
Oct 6, 2022	IDA-59300	Loan Disb	723,947.25
Dec 15, 2022	IDA-59300	Int Charges	2,061.90
Dec 15, 2022	IDA-59300	Int Charges	2,061.90
Jan 26, 2023	IDA-59300	Int Charges	83,932.98
Jan 26, 2023	IDA-59300	Int Charges	83,932.98
Jul 7, 2023	IDA-59300	Int Charges	89,878.62
Jul 7, 2023	IDA-59300	Int Charges	89,878.62
Jul 7, 2023	IDA-59300	Int Charges	5,021.01
Jul 7, 2023	IDA-59300	Int Charges	5,021.01
Jul 7, 2023	IDA-59300	Loan Repay	1,494,664.90
Dec 15, 2023	IDA-59300	Loan Repay	24,353.10
Jun 15, 2022	IDA-59300	Int Charges	1,041.06
Jun 15, 2022	IDA-59300	Int Charges	1,041.06
Sep 27, 2021	IDA-59300	Loan Disb	3,150.00
Jun 21, 2022	IDA-59300	Int Charges	88,948.27
Jun 21, 2022	IDA-59300	Int Charges	88,948.27
Dec 15, 2021	IDA-59300	Int Charges	701.78
Dec 15, 2021	IDA-59300	Int Charges	701.78
Dec 15, 2021	IDA-59300	Int Charges	94,075.12
Dec 15, 2021	IDA-59300	Int Charges	94,075.12
Jun 15, 2020	IDA-59300	Int Charges	34,754.94
Jun 15, 2020	IDA-59300	Int Charges	34,754.94
Jun 15, 2020	IDA-59300	Int Charges	25,625.56
Jun 15, 2020	IDA-59300	Int Charges	25,625.56
May 18, 2020	IDA-59300	Loan Disb	150,000.02
Jun 15, 2020	IDA-59300	Int Charges	4,397.09
Jun 15, 2020	IDA-59300	Int Charges	4,397.09
Sep 22, 2020	IDA-59300	Loan Disb	7,373,892.00
Dec 15, 2020	IDA-59300	Int Charges	45,611.99
Dec 15, 2020	IDA-59300	Int Charges	45,611.99
Dec 15, 2020	IDA-59300	Int Charges	34,547.77
Dec 15, 2020	IDA-59300	Int Charges	34,547.77
Dec 15, 2020	IDA-59300	Int Charges	1,177.63
Dec 15, 2020	IDA-59300	Int Charges	1,177.63
Jun 15, 2021	IDA-59300	Int Charges	96,218.43
Jun 15, 2021	IDA-59300	Int Charges	96,218.43
Jun 15, 2021	IDA-59300	Int Charges	1,525.98
Jun 15, 2021	IDA-59300	Int Charges	1,525.98
Nov 29, 2017	IDA-59300	Loan Disb	2,333,332.00
Feb 2, 2018	IDA-59300	Loan Disb	455,700.00
Jun 15, 2018	IDA-59300	Int Charges	754.81
Jun 15, 2018	IDA-59300	Int Charges	754.81
Jun 15, 2018	IDA-59300	Int Charges	9,938.69
Jun 15, 2018	IDA-59300	Int Charges	9,938.69
Jun 18, 2018	IDA-59300	Int Charges	20.00
Jun 18, 2018	IDA-59300	Int Charges	20.00
Dec 15, 2018	IDA-59300	Int Charges	329.29
Dec 15, 2018	IDA-59300	Int Charges	329.29

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Procurement	Moderately Satisfactory	2020-10-01
Project Management	Moderately Satisfactory	2020-10-01
Financial Management	Moderately Satisfactory	2020-10-01
Overall Implementation Progress (IP)	Moderately Satisfactory	2020-10-01
Progress towards achievement of PDO	Satisfactory	2020-10-01
Monitoring and Evaluation	Satisfactory	2020-10-01

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-15-2023
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 11-21-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Adults with active transaction accounts Value 22.80 47.79 26.00
Date December 31, 2014 December 31, 2021
Comment
Males Value 28.60 49.52 0.00
Date December 31, 2014 December 31, 2021
Comment
Females Value 17.40 46.15 0.00
Date December 31, 2014 December 31, 2021
Comment
Adults in the poorest 40% with accounts at a financial institution (%) Value 16.10 21.31 18.00
Date December 31, 2014 December 31, 2021
Comment
Loans from commerical banks Value 8.00 15.00 12.00
Date December 31, 2014 December 31, 2020
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Improved transparency of state-owned banks Value No Yes
Date January 2, 2017 December 31, 2020
Comment
Improved soundness and transparency of financial institutions Value 0.00 50.00 0.00
Date January 2, 2017 December 31, 2020
Comment
Banks connected to CBM Value 0.00 80.00 0.00
Date November 29, 2016 December 31, 2020
Comment
Upgrading of NBFI supervisory capacity Value 0.00 3.00 1.00
Date January 2, 2017 December 31, 2020
Comment
Capacity building for citizen engagement and activities empowering citizens Value No Yes
Date November 29, 2016 December 31, 2020
Comment

Adults with active transaction accounts	Value	22.80	47.79	26.00
	Date	December 31, 2014	December 31, 2021
	Comment

Males	Value	28.60	49.52	0.00
	Date	December 31, 2014	December 31, 2021
	Comment

Females	Value	17.40	46.15	0.00
	Date	December 31, 2014	December 31, 2021
	Comment

Adults in the poorest 40% with accounts at a financial institution (%)	Value	16.10	21.31	18.00
	Date	December 31, 2014	December 31, 2021
	Comment

Loans from commerical banks	Value	8.00	15.00	12.00
	Date	December 31, 2014	December 31, 2020
	Comment

Banks connected to CBM	Value	0.00	80.00	0.00
	Date	November 29, 2016	December 31, 2020
	Comment

Upgrading of NBFI supervisory capacity	Value	0.00	3.00	1.00
	Date	January 2, 2017	December 31, 2020
	Comment