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, (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.

ADB’s work in other countriesInsurance 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

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

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.

Thank you

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