Afghanistan: Private Sector and Financial Market Development Program

Evaluation Document | 6 May 2014

Validates the completion report’s assessment of the program, which aimed to create a dynamic private sector and improved financial intermediation in Afghanistan. IED overall assessment: Less than Successful.

The finance sector in Afghanistan was small, comprising commercial banks, microfinance institutions, credit unions, foreign exchange dealers, money service providers, an insurance company, and a leasing company. Commercial banks dominated the formal finance sector representing 95% of assets in the formal sector. Much of the economic activity occurred in the informal private sector which was estimated to be at least as large as the formal finance sector. Business access to formal credit remained limited for a number of reasons including the absence of legal and information underpinnings of formal intermediation.

This report validates the completion report’s assessment of the program. IED overall assessment: Less than Successful.


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