3 Contents of the Project 3.1 Basic Concept of the Project 3.1.1 Summary of the Project In comparison to the situation when the first preparatory survey project was conducted in November 2013, the environment surrounding the financial infrastructure has changed significantly along with economic growth, the implementation of CBS of FIs, and the need to adapt to international standards. In order to adapt to the changes in the surrounding environment, the enhancement of the functions on CBM-NET will be conducted in this project. An overview of the project is summarized in the following table. Table 3-1 Overview of the project Item Description Project name Project for Development of ICT system for Central Banking (Phase 2) (hereinafter, Phase 2, or this project) Base objective Establish the financial environment to accomplish efficient and steady policies and businesses at CBM. Objective of the project Accelerate the efficiency of the entire settlement process of both CBM and FIs and accomplish further modernization of the financial markets and policies of Myanmar. Outcome of the project The new functions based on international standards have been installed in CBM-NET. Project Scope 1. Implementation of new functions (k) STP (l) ISO 20022 adaptation (m) Liquidity Saving Feature and Message Queuing (n) ACH (o) Cheque Truncation (p) Alert and Dashboard function (q) Disaster Recovery (r) Redundancy of the data (s) User Authentication (t) Automatic Data Exchange 2. Introduce the equipment to accomplish the above functions (c) Modify or re-establish the infrastructure for the information system (d) Modify or re-establish the network system for the information system 3. Design and build for operation and maintenance for the systems corresponding to the above functional request 15