The objective of the TA is to prepare a project to support the Government's efforts to reduce poverty and promote private sector investments - rural and agro-based enterprises. The TA will assist the Government in creating an enabling policy environment for sustainable rural finance and identify and introduce institutional reforms essential to improve the supply of sustainable rural financial services to the rural areas.
|Project Name||Rural Finance Sector Development|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
|Sector / Subsector||
Finance / Inclusive finance
|Gender Equity and Mainstreaming||No gender elements|
|Description||The objective of the TA is to prepare a project to support the Government's efforts to reduce poverty and promote private sector investments - rural and agro-based enterprises. The TA will assist the Government in creating an enabling policy environment for sustainable rural finance and identify and introduce institutional reforms essential to improve the supply of sustainable rural financial services to the rural areas. The scope of the TA will include: (i) examination of the need and recommendation for the rationalization of rural financial institutions (RFIs); (ii) review of existing legal and regulatory framework for RFIs and recommendation for a framework for sustainable RFIs; (iii) development of a holistic framework which addresses financial services as well as, business support services; (iv) identification of measures requiring financial intervention, to improve post-harvest activities and marketing; and (v) suggest how financial intervention can promote land consolidation, crop diversification, and non-farm IGA towards increasing agriculture productivity.|
|Project Rationale and Linkage to Country/Regional Strategy|
|Description of Outcome|
|Progress Toward Outcome|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Geographical Location||Rural areas|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Consulting Services||About 12 person-months of international and 14 person-months of domestic consulting services will be needed. The international consultants will be experts in financial institutions and policy, legal aspects of financial institutions, micro and small business, management information and information and communication technology systems, and economic and financial analyses. The domestic consultants will have expertise in rural sociology, bank accounting and auditing, bank inspection and supervision, and laws relating to bank and nonbank financial institutions. A consulting firm will be engaged in accordance with ADB's Guidelines on the Use of Consultants and other arrangements satisfactory to ADB for engaging domestic consultants.|
|Procurement||To be determined.|
|Responsible ADB Officer||Maurice A. De Alwis|
|Responsible ADB Department||South Asia Department|
|Responsible ADB Division||Public Management, Financial Sector and Trade Division, SARD|
The Central Bank of Sri Lanka
Mrs. C. K. Nanayakkara, Director
Equity II Bldg, No. 61 Janadhipathi Mawatha P.O. Box 590, Colombo 1 Sri Lanka
|Concept Clearance||09 Mar 2000|
|Fact Finding||02 Mar 2001 to 17 Mar 2001|
|Approval||24 Aug 2001|
|Last Review Mission||-|
|Last PDS Update||24 Jul 2009|
|Approval||Signing Date||Effectivity Date||Closing|
|24 Aug 2001||05 Nov 2001||05 Nov 2001||31 May 2002||30 Apr 2004||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|550,000.00||0.00||0.00||0.00||0.00||0.00||550,000.00||24 Aug 2001||549,998.72|
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