country operations business plan - asian development bank · 2016-12-20 · sme finance...

1

Country Operations Business Plan

Project Number: 26194 December 2016

Uzbekistan 2017–2019

This document is being disclosed to the public in accordance with ADB’s Public Communications Policy 2011.

CURRENCY EQUIVALENTS (as of 29 November 2016)

Currency unit – sum (SUM) SUM1.00 = $0.00032

$1.00 = SUM3,176.2

ABBREVIATIONS

ADB – Asian Development Bank ADF – Asian Development Fund CAREC – Central Asia Regional Economic Cooperation COBP – country operations business plan CPS – country partnership strategy NDS – national development strategy OCR – ordinary capital resources PPSA – planned public sector assistance

NOTE

In this report, “$” refers to US dollars.

Vice-President W. Zhang, Operations 1 Director General S. O’Sullivan, Central and West Asia Department (CWRD) Country Director T. Konishi, Uzbekistan Resident Mission, CWRD Team leader I. Gulamov, Senior Economics Officer, CWRD Team members J. Bisuna, Strategy and Policy Officer, Strategy and Policy Department C. Espina, Senior Economics Officer, CWRD R. Hu, Portfolio Management Specialist, CWRD Kh. Luu, Transport Specialist, CWRD K. Mitsuhashi, Senior Energy Specialist, CWRD D. Mukhammadaliyev, Social Sector Officer, CWRD A. Sumbal, Principal Economist, CWRD D. Yavmutdinova, Senior External Relations Assistant, CWRD H. Zhang, Principal Urban Development Specialist, CWRD

In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

CONTENTS Page

I. CONSISTENCY OF THE BUSINESS PLAN WITH THE COUNTRY PARTNERSHIP STRATEGY 1

II. INDICATIVE RESOURCE PARAMETERS 2

III. SUMMARY OF CHANGES TO LENDING AND NONLENDING PROGRAMS 2

A. Lending Program 2 B. Nonlending Program 3

APPENDIXES

1. Country Assistance Results Areas 4

2. Indicative Assistance Pipeline 6

3. Assistance Program for the Current Year 10

I. CONSISTENCY OF THE BUSINESS PLAN WITH THE COUNTRY PARTNERSHIP STRATEGY

1. The proposed country operations business plan (COBP), 2017–2019 for Uzbekistan is consistent with the country partnership strategy (CPS), 2012–2016, 1 and more recent government initiatives.2 2. The CPS supports (i) infrastructure development, focused on transport and communications, energy, water resources, and water supply and other municipal infrastructure and services; and (ii) access to financial services. While focusing on these areas, the CPS proposes flexible and responsive support to accommodate Uzbekistan’s emerging developing needs. The CPS envisages making ongoing adjustments to the country program in line with national priorities through COBPs. 3. Uzbekistan’s national priorities have evolved since 2012. Rising per capita incomes and a rapidly growing population are placing greater pressure on social infrastructure and public services, including health and education. The private sector needs to play a greater role in generating employment for the large, young labor force. The government recognized these emerging needs and in 2015 approved a comprehensive program of action,3 which together with subsequent government decisions forms a new national development strategy (NDS) for 2016–2020. 4. The NDS pursues seven development objectives: (i) industrial modernization, (ii) infrastructure development, (iii) private sector development, (iv) corporate governance, (v) protection of private ownership, (vi) localization of manufacturing, and (vii) energy efficiency.4 Human capital development, through improved and inclusive social infrastructure and services, is identified as cross-cutting theme of the NDS. In this regard, the NDS is consistent with the ADB Strategy 2020 midterm review, which includes expanded operational assistance for social services as a strategic priority.5 5. In line with the CPS, this COBP includes operational support for transport, energy, municipal services, and access to finance. Reflecting emerging development priorities and ADB Strategy 2020 midterm review recommendations, the COBP also includes pilot-based and demand-driven support to education and healthcare. The support will be based on comprehensive sector assessments, ADB experience, project readiness, and client demand. 6. Support for the key drivers of change—private sector development and operations, regional cooperation, governance and reforms, knowledge management, gender equity, and climate change and the environment—is integrated into the sector-based operational assistance. Stand-alone technical assistance is proposed for demand-led reforms and the creation of knowledge solutions in key areas.

1 ADB. 2012. Country Partnership Strategy: Uzbekistan, 2012–2016. Manila.

2 I. Karimov. 2015. Creation of Broad Opportunities for Development of Private Entrepreneurship through Fundamental Structural Reforms, Continuous Modernization, and Diversification. Statement at the Annual Review Meeting of the Cabinet of Ministers of the Republic of Uzbekistan. Tashkent.

3 Government of Uzbekistan. 2015. The Program of Action of the Cabinet of Ministers for Near and Long-Term

Perspective. http://www.gov.uz/en/pages/perspective_program 4 Complete list available at the monitoring portal of the Ministry of Economy, http://reports.nis.uz.

5 ADB. 2014. Midterm Review of Strategy 2020: Meeting the Challenges of a Transforming Asia and Pacific. Manila.

2

7. Consultations with the government during March–July 2016 confirmed the rationale for an enhanced COBP process to bridge the gap between the CPS, 2012–2016 and future CPSs.6 The government broadly confirmed the prioritized operational program presented in this COBP on 24 November 2016.

II. INDICATIVE RESOURCE PARAMETERS

8. Uzbekistan is a Group B developing member country with access to the Asian Development Fund (ADF) and ordinary capital resources (OCR). Indicative resources available during 2017–2019 for sovereign operations total $2,092.4 million, comprising $1,400 million in regular OCR and $692.4 million in ADF and concessional OCR resources.7 The final allocation will depend on the available ADF and concessional OCR resources, and the outcome of the country performance assessments. In addition, cofinancing and funding from other sources—including the ADF and concessional OCR regional pool, and the OCR regional cooperation and integration set-aside—will be actively explored. 9. The cumulative lending program for Uzbekistan for 2017–2019, estimated at $2,550 million, is above the indicative resource allocation. ADB will endeavor to seek additional sources of financing, including cofinancing, regional set-aside (if applicable) and nonsovereign funding (if applicable) to process projects beyond the stipulated resource envelope. 10. In addition to public sector assistance, ADB will explore direct investments in private sector undertakings, mainly in energy, chemicals, pharmaceuticals, and agribusiness. 11. Technical assistance grants totaling $15.0 million will be extended for project preparation, demand-led reforms, capacity development, and knowledge management.

III. SUMMARY OF CHANGES TO LENDING AND NONLENDING PROGRAMS

12. This COBP reflects Uzbekistan’s current development priorities. The updated CPS results framework (Appendix 1) shows the adjustments. The updated lending and nonlending programs are in Appendix 2. Major changes are summarized below. A. Lending Program

13. The firm lending program for 2017–2019 of $2,160 million has been assessed and prioritized, taking into account project readiness, portfolio performance, and complementarity with assistance from other development partners. 14. Agriculture and natural resources. The 3-year sector pipeline includes one project, the Agriculture Diversification Project, firm for 2018. The pipeline amounts to $100 million, or 4.0% of the planned public sector assistance (PPSA). 15. Education. The 3-year sector pipeline includes one project, the Skills Development for Inclusive Growth, firm for 2019. The firm pipeline amounts to $100 million, or 4.0% of the PPSA.

6 Under 2015 CPS reforms, the enhanced COBP process replaced the interim CPS.

7 Reflecting the approved combination of ADF lending operations with the OCR balance sheet that will become

effective on 1 January 2017.

3

16. Energy. The 3-year sector pipeline includes five projects: (i) the Power Generation Efficiency Improvement Project, firm for 2017; (ii) the Second Solar Power Project, firm for 2018; (iii) the Second Northwest Region Power Transmission Line Project, firm for 2018; (iv) the Sustainable Hydropower Project, firm for 2019; and (v) the Second Power Generation Efficiency Project, firm for 2019. The firm pipeline amounts to $1,100 million, or 43% of the PPSA. The District Heating Project for $50 million and the Energy Efficiency Improvement for Industrial Enterprises Project for $200 million are also included in the pipeline as standby for 2019. 17. Finance. The 3-year sector pipeline includes one project, the Second Small Business Finance Project, firm for 2019. The pipeline amounts to $100 million, or 4.0% of the PPSA. 18. Health. The 3-year sector pipeline includes one project, the Electronic Healthcare Development Project, firm for 2018. The firm pipeline amounts to $100 million, or 4.0% of the PPSA. 19. Transport. The 3-year sector pipeline includes five projects: (i) the Pap-Namangan Railway Electrification Project, firm for 2017; (ii) Third Central Asia Regional Economic Corridor (CAREC) Road Investment Program (tranche 1), standby for 2017; (iii) the Third CAREC Corridor Road Investment Program (tranche 2), firm for 2018; (iv) the Railway Efficiency Improvement Project, firm for 2018; and (v) the Third CAREC Corridor Road Investment Program (tranche 3), standby for 2019. The pipeline amounts to $480 million, or 19% of the PPSA. 20. Water supply and sanitation. The 3-year sector pipeline includes three projects: (i) the Western Uzbekistan Water Supply System Development Project, firm for 2017; (ii) the Second Solid Waste Management Project, firm for 2018; and (iii) the Tashkent Region Sanitation System Development Project, firm for 2019. The sector pipeline amounts to $480 million, or 19.0% of the PPSA. B. Nonlending Program

21. The nonlending program has been updated to strengthen (i) project preparatory activities to enhance project quality and readiness, and (ii) capacity development for the public sector.

4 Appendix 1

COUNTRY ASSISTANCE RESULTS AREAS

Key Country Development Outcomes that ADB Contributes to

ADB

Key Areas of Assistance Indicative Resource Allocation

in 2017–2019a

Changes from Last COBP

1. Transport

Efficient movement of people and goods and reduced travel time along strategic transport corridors.

National roads rehabilitation

Railways infrastructure modernization

Improvement of cross-border infrastructure and facilities

Road maintenance and safety

$480 million for 2017–2019, 19% of total COBP envelope $100 million in potential cofinancing

None.

2. Energy

Energy efficiency enhanced, and regional energy trade increased.

Combined cycle generation

Solar and other renewable power generation

Energy efficiency, distribution loss reduction

Power transmission

Policy and regulation

$1,350 million for 2017–2019, 53% of total COBP envelope $1,255 million in potential cofinancing

None.

3. Water and Other Urban Infrastructure and Services

Improved access to better-quality municipal services for higher living standards

Drinking water and sanitation system improvement

Garbage collection and waste disposal

Public transport

Urban governance and planning

$320 million for 2017–2019, 13% of total COBP envelope $20 million in potential cofinancing

None.

4. Agriculture, Natural Resources, and Rural Development

Improved productivity of a diversified agriculture sector.

Agriculture finance

Rural market infrastructure

Rural enterprise development

$100 million for 2017–2019, 4.0% of total COBP envelope $5 million in potential cofinancing

New development outcome and areas of assistance.

5. Education

Improved and demand-driven technical and vocational education and training system that is more responsive to labor market needs.

Technical and vocational education and training

Education sector development

$100 million for 2017–2019, 4.0% of total COBP envelope

New area of intervention.

6. Health

Improved access to better-quality health diagnostic services in rural areas.

Health system development $100 million for 2017–2019, 4.0% of total COBP envelope

New area of intervention.

Appendix 1 5

Key Country Development Outcomes that ADB Contributes to

ADB

Key Areas of Assistance Indicative Resource Allocation

in 2017–2019a

Changes from Last COBP

7. Finance

Increased and more effective financial access for SMEs and other non-state borrowers

SME finance

Microfinance

Insurance and contractual savings

$100 million for 2017–2019, 4.0% of total COBP envelope

None.

ADB = Asian Development Bank, COBP = country operations business plan, SME = small and medium-sized enterprises a The total indicative resource allocation for lending product cofinancing during 2017–2019 is $1,380 million. Source: ADB estimates.

6 Appendix 2

INDICATIVE ASSISTANCE PIPELINE

Table A2.1: Lending Products, 2017–2019 Strategic

Agendas and Drivers of Change

Year of

PPTA/ PDA

Cost ($ million)

ADBa

Project/Program Name Sector Poverty

Targeting Division Total Regular OCR COL

ADF Grants Total Gov’t

Co- Finance

b

2017 Firm Power Generation Efficiency Improvement Project

ENE GI IEG, ESG, GCD, PAR

CWEN 2016 1,063.0 450.0 0.0 0.0 450.0 163.0 450.0 (UFRD)

Pap–Namangan Railway Electrification Project

TRA GI IEG, ESG, RCI

CWEN 2014 171.0 80.0 0.0 0.0 80.0 91.0 0.0

Western Uzbekistan Water Supply System Development

WUS GI IEG, ESG. GEM, PAR

CWUW 2016 120.0 0.0 100.0 0.0 100.0 20.0 0.0

Total 530.0 100.0 0.0 630.0

2017 Standby Agriculture Diversification Project ANR GI IEG, ESG,

PAR CWER 2016 145.0 0.0 100.0 0.0 100.0 40.0 5.0

Second Solar Project ENE GI IEG, ESG, GCD, PAR

CWEN 2016 300.0 0.0 100.0 0.0 100.0 195.0 5.0

Second North West Region Power Transmission Line Project

ENE GI IEG, ESG, GCD

CWEN 2017 250.0 200.0 0.0 0.0 200.0 50.0 0.0

MFF Third CAREC Corridor Road Investment Program (Tranche 1)

c

TRA GI IEG, RCI, PAR

CWTC 2015 370.0 200.0 0.0 0.0 200.0 70.0 100.0

Total 400.0 200.0 0.0 600.0

2018 Firm Agriculture Diversification Project ANR GI IEG, ESG,

PAR CWER 2016 145.0 0.0 100.0 0.0 100.0 40.0 5.0

Second Solar Power Project ENE GI IEG, ESG, GCD, PAR

CWEN 2016 300.0 0.0 100.0 0.0 100.0 195.0 5.0

Second North West Region Power Transmission Line Project


CWEN 2017 250.0 200.0 0.0 0.0 200.0 50.0 0.0


c


CWTC 2015 200.0 160.0 0.0 0.0 160.0 40.0 0.0

Railway Efficiency Improvement Project

TRA GI IEG, RCI, GCD

CWTC 2017 140.0 100.0 0.0 0.0 100.0 40.0 0.0

Second Solid Waste Management Project

WUS GI IEG, ESG, GCD

CWUW 2017 140.0 100.0 0.0 0.0 100.0 20.0 20.0

Total 560.0 200.0 0.0 760.0

Appendix 2 7

Strategic Agendas and

Drivers of Change

Year of

PPTA/ PDA

Cost ($ million)

ADBa




Co- Finance

b

2018 Standby

Sustainable Hydro Power Project


CWEN 2016 300.0 100.0 0.0 0.0 100.0 150.0 50.0

Second Power Generation Efficiency Project


CWEN 2017 900.0 250.0 0.0 0.0 250.0 150.0 500.0

Electronic Healthcare Development Project

HLT GI IEG, GEM, PAR

CWSS 2016 130.0 0.0 100.0 0.0 100.0 30.0 0.0

Total 350.0 100.0 0.0 450.0

2019 Firm Skills Development for Inclusive Growth

EDU GI IEG, GEM, KNS, PAR

CWSS 2018 120.0 0.0 100.0 0.0 100.0 20.0 0.0

Sustainable Hydro Power Project


CWEN 2016 300.0 100.0 0.0 0.0 100.0 150.0 50.0

Second Power Generation Efficiency Project


CWEN 2017 900.0 250.0 0.0 0.0 250.0 150.0 500.0

Second Small Business Finance FIN GI IEG, GEM, PSD

CWPF 2018 100.0 100.0 0.0 0.0 100.0 0.0 0.0

Electronic Healthcare Development Project

HLT GI IEG, GEM, PAR

CWSS 2016 130.0 0.0 100.0 0.0 100.0 30.0 0.0

Tashkent Region Sanitation System Development

WUS GI IEG, ESG. GEM, PAR

CWUW 2018 160.0 0.0 120.0 0.0 120.0 40.0 0.0

Total 450.0 320.0 0.0 770.0

8 Appendix 2

Strategic

Agendas and Drivers of Change

Year of

PPTA/ PDA

Cost ($ million)

ADBa




Co- Finance

b

2019 Standby District Heating Project ENE GI IEG, ESG,

GCD CWEN 2018 250.0 50.0 0.0 0.0 50.0 50.0 150.0

Energy Efficiency Improvement for Industrial Enterprises


CWEN 2019 400.0 200.0 0.0 0.0 200.0 100.0 100.0


c


CWTC 2015 170.0 140.0 0.0 0.0 140.0 30.0 0.0

Total 390.0 0.0 0.0 390.0

ADB = Asian Development Bank; ADF = Asian Development Fund; ANR = agriculture, natural resources, and rural development; CAREC = Central Asia Regional Economic Cooperation; COL = concessional OCR lending; CWEN = Energy Division; CWER = Environment, Natural Resources, and Agriculture Division; CWPF = Public Management, Financial Sector and Trade Division; CWSS = Social Sector Division; CWTC = Transport and Communications Division; CWUW = Urban Development and Water Division; EDU = education; ENE = energy; ESG = environmentally sustainable growth; FIN = finance; GCD = governance and capacity development; GEM = gender equity and mainstreaming; GI = general intervention; Gov’t = government; HLT = health; IEG = inclusive economic growth; MFF = multitranche financing facility; OCR = ordinary capital resources; PAR = partnerships; PDA = project design advance; PPTA = project preparatory technical assistance; PSD = private sector development and private sector operations; RCI = regional cooperation and integration; TRA = transport; UFRD = Uzbekistan Fund for Reconstruction and Development; WUS = water and other urban infrastructure and services. a Reflecting the approved combination of ADF lending resources operations with the OCR balance sheet that will become effective on 1 January 2017.

b Cofinancing sources to be determined unless stated otherwise.

c Depending on improvements in project implementation and performance of the loan portfolio in 2016. Additional financing (beyond the 2017 OCR allocation) will be

mobilized for the project. Source: Asian Development Bank.

Appendix 2 9

Table A2.2: Nonlending Products and Services, 2017–2019

Assistance Name Sector Division Assistance

Type

Sources of Funding

ADB Others

Total

($’000) Source Amount


($’000)

2017

Energy Efficiency Improvement Project ENE CWEN PPTA TASF 1,000 1,000 Second North West Region Power Transmission Line Project

ENE CWEN PPTA TASF 1,000 1,000

Second Power Generation Efficiency Project ENE CWEN PPTA TASF 1,000 1,000 Local Government Planning Development PSM CWPF CDTA TASF 500 500 North West Railway Electrification Project TRA CWTC PPTA TASF 1,000 1,000 Second Solid Waste Management Western Uzbekistan Water Supply System

WUS WUS

CWUW CWUW

PPTA PPTA

TASF TASF

800 600

800 600

Total 6,000 6,000 2018 District Heating Project ENE CWEN PPTA TASF 1,000 1,000 Skills Development for Inclusive Growth EDU CWSS PPTA TASF 1,000 1,000 Second Small Business Finance FIN CWPF PPTA TASF 1,000 1,000 Second Sustaining Growth and Improving Welfare

PSM CWRC PATA TASF 750 750

Tashkent Region Sanitation System Development

WUS CWUW PPTA TASF 800 800

Total 4,550 4,550 2019 Energy Efficiency Improvement for Industrial Enterprises

ENE CWEN PPTA TASF 1,000 1,000

Regional Railway Development TRA CWTC PPTA TASF 1,000 1,000 MFF Fourth CAREC Corridor Road Investment Program

TRA CWTC PPTA TASF 1,000 1,000

Improving Public Procurement Services MUL URM CDTA TASF 500 500 Total 3,500 3,500

ADB = Asian Development Bank; CAREC = Central Asia Regional Economic Cooperation; CDTA = capacity development technical assistance; CWEN = Energy Division; CWPF = Public Management, Financial Sector and Trade Division; CWRC = Regional Cooperation and Operations Coordination Division; CWSS = Social Sector Division; CWTC = Transport and Communications Division; CWUW = Urban Development and Water Division; EDU = education; ENE = energy; FIN = finance; MFF = multitranche financing facility; MUL = multisector; PATA = policy and advisory technical assistance; PPTA = project preparatory technical assistance; PSM = public sector management; TASF = Technical Assistance Special Fund; TRA = transport; URM = Uzbekistan Resident Mission; WUS = water and other urban infrastructure and services. Source: Asian Development Bank.

10 Appendix 3

ASSISTANCE PROGRAM FOR THE CURRENT YEAR

Table A3.1: Lending Products, 2016


Targeting

Strategic Agendas

and Drivers of Change Division

Year of

PPTA/ PDA

Cost ($ million)

Total

ADB

Gov’t Co-

finance OCR

ADF

Total Loans Grants

Firm a

Horticulture Value Chain Development (formerly Innovations for Agriculture Modernization) Project

ANR GI ESG, IEG, GEM

CWER 2015 215.0 0.0 154.0 0.0 154.0 61.0 0.0

Small Business Finance Project

FIN GI ESG, IEG, PSD

CWPF 2015 100.0 100.0 0.0 0.0 100.0 0.0 0.0

Kashkadarya Regional Road Project


CWTC 2015 267.0 198.0 0.0 0.0 198.0 69.0 0.0

Tashkent Region Water Supply System Development Project

WUS GI IEG, ESG, GEM

CWUW 2016 144.0 0.0 121.0 0.0 121.0 23.0 0.0

Total 948.0 120.0 0.0 1,068.0

Standby Affordable Rural Housing Program

b

FIN GI IEG, GCD, EGM

CWPF 2016 3,000 500.0 0.0 0.0 500.0 2,500 0.0

Pap–Namangan Railway Electrification Project

TRA GI IEG, ESG, RCI

CWEN 2016 171.0 80.0 0.0 0.0 80.0 91.0 0.0

Total 580.0 0.0 0.0 580.0

ADB = Asian Development Bank; ADF = Asian Development Fund; ANR = agriculture, natural resources, and rural development; CWEN = Energy Division; CWER = Environment, Natural Resources, and Agriculture Division; CWPF = Public Management, Financial Sector and Trade Division; CWTC = Transport and Communications Division; CWUW = Urban Development and Water Division; ESG = environmentally sustainable growth; GEM = gender equity and mainstreaming; GI = general intervention; Gov’t = government; IEG = inclusive economic growth; OCR = ordinary capital resources; PAR = partnerships; PDA = project design advance; PPTA = project preparatory technical assistance; RCI = regional integration; TBD = to be determined; TRA = transport; WUS = water and other urban infrastructure and services. a The actual pipeline can deviate from the indicative allocation as a result of possible reallocation of OCR within the Central and West Asia Department.

b The project is presented as 2016 standby because it utilizes the 2016 OCR allocation for Uzbekistan.

Source: Asian Development Bank.

Appendix 3 11

Table A3.2: Nonlending Products and Services, 2016

Assistance Name Sector Division Assistance

Type

Sources of Funding

ADB Others

Source Amount


($’000)

Total

($’000)

Agriculture Diversification Project ANR CWER PPTA TASF 1,000 1,000

Access to Opportunities for Inclusive Growth

EDU CWSS PATA TASF JFPR 900 900

Power Generation Efficiency Improvement ENE CWEN PPTA TASF 1,500 1,500

Second Solar Power Development ENE CWEN PPTA ACEF/CEFPF 1,500 1,500

Sustainable Hydro Power Project ENE CWEN PPTA TASF 500 ACEF/CEFPF 2,000 2,500

Affordable Rural Housing Program FIN URM PPTA TASF 700 700

Supporting Affordable Rural Housing Program

FIN URM CDTA TASF 700 700

Strengthening Participating Financial Institutions

FIN CWPF CDTA FSDPSF 500 500

Electronic Healthcare Development HLT CWSS PPTA TASF 800 800

Western Uzbekistan Water Supply System Development

WUS CWUW PPTA TASF 800 800

Total 6,000 4,900 10,900

ACEF/CEFPF = Asia Clean Energy Fund under the Clean Energy Financing Partnership Facility; ADB = Asian Development Bank; ANR = agriculture, natural resources, and rural development; CDTA = capacity development technical assistance; CWEN = Energy Division; CWER = Environment, Natural Resources, and Agriculture Division; CWPF = Public Management, Financial Sector and Trade Division; CWSS = Social Sector Division; CWTC = Transport and Communications Division; CWUW = Urban Development and Water Division; EDU = education; ENE = energy; FIN = finance; FSDPSF = Financial Sector Development Partnership Special Fund; HLT = health; JFPR = Japan Fund for Poverty Reduction; PATA = policy and advisory technical assistance; PPTA = project preparatory technical assistance; TASF = Technical Assistance Special Fund; URM = Uzbekistan Resident Mission; WUS = water and other urban infrastructure and services. Source: Asian Development Bank.

country operations business plan - asian development bank · 2016-12-20 · sme finance...

Documents