36357-013: Financial Markets Program for Private Sector Development

Project Data Sheet (PDS): Details


Description

The objective of the Program is to facilitate private sector participation, including SMEs, in the Sri Lankan economy by supporting Government reforms to eliminate impediments and develop opportunities for greater private sector involvement. The Program aims to create a more vibrant private sector that should take a lead in generating employment opportunities for economic growth and in raising income levels for a larger segment of the country, including the rural areas.

Project Rationale and Linkage to Country/Regional Strategy

The program is integral part of the Country Strategy and Program agreed between the Government and ADB

Impact

(1) Develop financial markets (2) Reduce public sector spending in PBank

Implementation Progress

Description of Project Outputs

(1.a) Increased financial products and services available to the capital market (1.b) Enhanced corporate governance in the financial market; resulting in fostered competition and promoted transparency in the financial market (1.c) Improved regulations of the insurance industry (2.a) Improved Corporate Governance of Stateowned Banks (2.b) Operational Improvement of PBank

Safeguard Categories

Environment: C
Involuntary Resettlement:
Indigenous Peoples:

Status of Covenants

Category Rating
Loan 2138
Sector
Social
Financial Satisfactory
Economic
Others Satisfactory
Safe
Project Financial Statements
Loan 2139
Sector
Social
Financial Satisfactory
Economic
Others Satisfactory
Safe
Project Financial Statements



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)

Timetable

Fact-finding
16 Aug 2004 to 06 Sep 2004

Management Review Meeting
21 Oct 2004

Approval
15 Dec 2004

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