PRIV SECT DEVT

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The principal objectives of the Private Sector Development Project are to: 1) promote growth of the private sector and create conditions for an effective supply response from viable private enterprises and farmers; 2) facilitate the adoption of safe and sound banking practices; and 3) stimulate competition in the credit market. The project will provide an opportunity for the Bank to follow-up on the level of individual banks with its assistance, initiated under the Financial and Enterprise Sector Credit, to transformation and strengthening of the banking sector. It consists of two main components: 1) a private sector finance component which will provide investment and permanent working capital loans to private enterprises, including agricultural enterprises in order to improve profitability by increasing output or improving efficiency; and 2) a private farmer finance component which will help viable private farmers expand their agricultural output.