34389-043: Second Financial Sector Program Cluster - Subprogram 4

Project Data Sheet (PDS): Details


A sound, market-based finance sector that enhances financial resource mobilization

Project Outcome

Description of Outcome

A growing, resilient, and efficient financial system

Progress Towards Outcome

Achieved the target outcomes. M2/to GDP reached 38.3% in December 2010 compared to the target of 29% or above by 2011. Total private sector credit reached 28% of GDP in December 2010 compared to target of 24% of GDP or above by 2011. Total bank deposits reached 34.4% of GDP in December 2010 compared to target of 25% of GDP or above by 2011

Implementation Progress

Description of Project Outputs

1. Improved confidence and financial intermediation. Modernized payments, clearance, and settlement system (PCSS) 2. Maintain stability in the finance sector. Strengthened bank supervision capacity and measures adopted to sustain financial stability 3. Promote good governance. International initiatives on anti-money laundering and combating the financing of terrorism promoted 4. Enhance efficiency in the finance sector. Key operating functions of NBC fully computerized and integrated

Status of Operation/Construction or Implementation Progress


Safeguard Categories

Environment: C
Involuntary Resettlement: C
Indigenous Peoples: C

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

Project Data Sheets (PDS)


Concept Clearance
16 Mar 2007

25 May 2010 to 01 Jun 2010

Management Review Meeting
27 Jul 2010

Board Approval
02 Dec 2010