GY FINANCIAL & PRIVATE SECTOR

closed

The Financial and Private Sector Institutional Development Project, will support institutional reforms, and, improve regulatory frameworks on the overall financial sector, thus, supporting private sector development, and, enhancing banking, insurance, and financial operations. The three main components are: 1) financial sector development, where expertise, and technology upgrade will be developed, for processing banking liquidity/solvency problems through technical assistance; regulatory frameworks will be updated, covering financial institutions as a whole; and, the financial conditions of state-owned banks, will be restructured, to include an assessment on privatization options; 2) private sector development, to transfer state enterprises to the private sector. The component will provide funds for technical assistance, training, and equipment, in support of the privatization process. Additionally, a framework for facilitating public offering of shares, of those privatized enterprises, will be developed, and, socially equitable policies, will ensure sound safeguards' protection; 3) development of public business services, to establish a national contractors registry. Funding will be provided to revise, and develop public procurement procedures, and guidelines, and, update the external auditing capacity of the public sector.