FIN MKTS ASSISTANCE

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The Financial Markets Assistance Project aims to improve the safety, soundness, and performance of the financial system in Uganda. There are four major components. The first strengthens the regulation, supervision, and operations of deposit-taking institutions by financing consultant contracts; providing specialized training of bank examiners; supporting the purchase of laptop computers, software, and other equipment; and supporting the upgrade of a national bank. The second component restructures and privatizes the Uganda Commercial Bank Limited by funding a management contract and other services as well as funding severance payments for redundant staff. The third component improves monetary management and payment systems. The fourth component develops insurance and contractual savings reforms and regulations by supporting the drafting of legislation, financing equipment and training, developing pension systems, and assisting capital markets development. Other components include finance project implementation and an as-needed reserve fund.