Nepal: Corporate and Financial Governance Project

Date: December 2012
Type: Evaluation Reports
Country:
Subject:
Evaluation; Governance and public sector management
Series: Validations of Project Completion Reports
Project Number: 28332-013

Description

Since the 1990s, the economy of Nepal was growing slowly as it was constrained by an underdeveloped financial system characterized by a number of deficiencies, which included lack of sound policy, the absence of a legal and regulatory environment, inadequate institutional capacity, and no effective enforcement. To modernize the economy, an efficient financial system was required. Furthermore, easy access to reliable information was required to reduce transaction costs and pursue equitable growth. Appropriate accounting standards had to be adopted and instituted and information and communications technology installed and enabled for good corporate and financial governance. Such a technical infrastructure was required to develop sophisticated markets and register rapid growth. The Corporate and Financial Governance Project was a first step in the country’s long-term commitment to accelerate its economic growth. This report validates the completion report’s assessment of the project which aims to improve transparency, accountability, and basic finance sector infrastructure in Nepal. IED overall assessment: Unsuccessful

Contents

  • Project Basic Data
  • Project Description
  • Evaluation of Performance and Ratings
  • Other Performance Assessments
  • Overall Assessment, Lessons, and Recommendations
  • Other considerations and Follow-up