Financial Markets Development Program (Subprogram 2)

Closed

The program will support regulatory and institutional reforms, including enhancements to financial market infrastructure, by focusing on three key areas: (i) improving market facilitation to streamline financial transactions and services, (ii) increasing demand measures to boost consumer and institutional engagement with financial services, and (iii) enhancing supply measures to ensure a more robust provision of financial products and services. It will contribute to the acceleration of the country's transition toward a market economy by developing its financial market to finance the real economy, which is moving from a state-led and -dominated model to one oriented on the market and the private sector. The program supports the development of capital market instruments to mobilize private sector and sustainable finance.