Financial Institutions modernization project

closed

Closed

The project supports institution building and reform in Angola's financial system to help stimulate resource mobilization, underpin private investment and promote economic diversification. Specifically, the project will assist in: (i) strengthening the central bank so that it can perform its monetary policy and regulatory functions; (ii) developing banking infrastructure; (iii) improving the legal and regulatory environment for financial operations; and (iv) establishing institutional mechanisms for financing private investment. The project will consist of: (a) strengthening the National Bank of Angola, the central bank, principally through improvements in its accounts and accounting practices, procedures and information systems, and in its staff skills in administrative and functional areas; (b) development of banking infrastructure, including establishment of a national check clearing system, a training center for financial sector personnel, and training a core of financial professionals; (c) disseminating and implementing laws and regulations affecting the banking sector, ensuring their coherence, establishing the legal and regulatory framework for the insurance sector; and establishing accounting and auditing standards for the enterprise sector; and (d) improving institutional mechanisms for financing private investment and studies on access to credit by the private sector.

FY17 - Financial Sector,FY17 - Public Administration

World Bank Group

Project

Commercial, Government