FIN/PRIV.SCTR.CAPACI

closed

The objectives of the Capacity Building Project for the Development of the Private Sector are to: 1) encourage investor interest in pursuing opportunities in the private sector, especially in the mining and fishing subsectors, via revision of the commercial and tax codes as well as other activities designed to enhance entrepreneurial dynamism and efficiency; and 2) strengthen the financial sector, so that it can better provide credit and banking services needed by the private sector. The project will finance the following three subcomponents: 1) upgrading of credit risk and borrower arrears information; 2) training in banking; and 3) study for the formulation of a strategy for the second phase of financial sector development. With respect to the private sector institutional and regulatory framework, the project will finance the following: 1) upgrading of the accounting and auditing framework; 2) support to the Chamber of Commerce; 3) strengthening of legal and judiciary framework; and 4) feasibility study of a tax free regime for exporters. In the fishing and mining sectors, the following components will be financed by the project: 1) strengthening of the regulatory and institutional framework of the mining sector; 2) survey of fishing resources, establishment of a monitoring mechanism for fish exports and strengthening of environmental and quality control capabilities.