Sri Lanka: Financial Markets Program for Private Sector Development

Date: December 2013
Type: Evaluation Reports
Evaluation; Finance
Series: Validations of Project Completion Reports
Project Number: 36357-013


The Asian Development Bank (ADB) supported the Government of Sri Lanka through the Private Sector Development Program (PSDP) cluster. The Financial Markets Program for Private Sector Development (the program) was the second of two subprograms (subprogram I and II) under the PSDP. It was to build on the results achieved by the PDSP subprogram I, especially in the development of financial markets and private sector's access to finance, and as support to the government's public enterprise reform program in the banking sector through the establishment of the Strategic Enterprise Management Agency.

Given the progress achieved under subprogram I, the program was re-focused toward broadening financial sector development by further facilitating private sector’s access to finance, including the SMEs. In particular, it was aimed at supporting government reforms, including the restructuring and phased recapitalization of the People’s Bank, a state-owned bank.

This report validates the completion report’s assessment of the project which aims to develop financial markets in Sri Lanka and reduce public sector spending in People’s Bank. IED overall assessment: Successful


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