DATE APPROVED: June 25, 1996
LOAN AMOUNT: IBRD—$180 million
PROJECT DESCRIPTION: This project provides partial funding for the government’s program to build a sound and efficient banking sector. The project will fund technical assistance and advice for improvements in the areas of property rights, the judiciary, information, registration, and reporting systems; institutional development of banks through support for enhanced bank governance and privatization; improvement of accounting and audit standards; transfer of modern bank equipment and management skills from western banks; and technical support for the establishment of a “level playing field” for bank competition, including advice on the removal of barriers to inter-bank competition. The project also provides financing for the relief of non-performing loans, bank re-capitalization, and technical assistance to public institutions in the areas of loan liquidation and reorganization, collateral foreclosure, debt restructuring, and loan sales. For more information, call Jan Pakulski, (202) 473-1797, fax 473-3362, e-mail: [email protected]. |
