Guidance Note on State-Owned Enterprise Reform for Nonsovereign and One ADB Projects

GUIDANCE NOTE ON STATE-OWNED ENTERPRISE REFORM FOR NONSOVEREIGN AND ONE ADB PROJECTS

NOVEMBER 2022

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ISBN 978-92-9269-822-5 (print), 978-92-9269-823-2 (electronic), 978-92-9269-824-9 (ebook)

Publication Stock No. TIM220502

DOI: http://dx.doi.org/10.22617/TIM220502

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On the cover: The Asian Development Bank is committed to supporting and collaborating with governments of developing member countries to help state-owned enterprises reform and access commercial finance under Strategy 2030 (photos by ADB).

Cover design by Joseph Manglicmot.

Contents

Tables and Boxes

Acknowledgments

This guidance note was prepared by David Robinett, senior public management specialist (State-Owned Enterprise Reforms), and Richard Frederick (consultant) under the auspices of the Asian Development Bank’s State-Owned Enterprise Working Group, chaired by Hiranya Mukhopadhyay, chief of Governance Thematic Group, Sustainable Development and Climate Change Department.

Special thanks to the following staff for their advice and comments: Craig Roberts, Catherine Marsh, Donald Lambert, Levan Mtchedlishvili, Mayank Choudhary, Peter Ho, Andrew McCartney, Shinya Kondo, Fiona Alpe, and Yurendra Basnett. We would also like to thank the following for their support: Toni Figurasin and Aly Escandor.

Abbreviations

About This Guidance Note

Strategy 2030 and Operational Priority 6 commits the Asian Development Bank (ADB) to support state-owned enterprise (SOE) reform in its developing member countries (DMCs). This guidance note is designed to guide ADB staff in their work with SOEs, including in nonsovereign and One ADB projects and through related technical assistance (TA). It covers potential risks for such projects, and mitigating reforms that may be initiated during the lead up to or during processing, including as part of