IND FIN RESTRUCT

closed

Closed

The project's principal objective is to assist the Government in undertaking a substantial adjustment of its industrial sector in view of a gradual integration with the European Community (EC). The project consists of: (a) support for setting up a framework of policies and programs for restructuring the industrial sector, including dispositions concerning environmental considerations; (b) the introduction of a strengthened regulatory and supervisory framework for increasing the soundness and efficiency of financial institutions, particularly as regards the cooperative banking network; (c) a program for increasing the financial autonomy of the Cyprus Development Bank (CDB); and (d) a credit facility to support the investment and working capital needs of eligible industrial enterprises undertaking restructuring programs. The project also provides for technical assistance in five areas: (a) assistance in undertaking competitive enhancement and environmental impact studies for specific enterprises; (b) assistance in developing quality control mechanisms for manufactured products; (c) development of project appraisal capabilities within participating banks (PBs); (d) the preparation of an action program for developing capital markets; and (e) development of the local industrial and environmental consulting capacity along with strengthening of the environmental auditing and control mechanisms.

FY17 - Financial Sector,FY17 - Industry, Trade and Services,FY17 - Public Administration

World Bank Group

Project

Manufacturing (Industrial), Government