Private Sector Institution Building Loan (PIBL)

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The Private Sector Institution Building Loan Project aims to enhance the private sector's role in the economy through the transfer of state-owned assets, the placement of state-owned banks on a sound financial footing, and the creation of an environment conducive to private sector growth and development. The project has three main components and will establish a project management unit to implement the program. 1) Under the privatization services component, technical assistance will be provided to support large state-owned enterprise divestiture through case-by-case privatizations, work-outs and liquidations, and privatizations through pools. 2) Under the financial sector services component, technical assistance to the financial sector will cover advisory services for bank restructuring plus the establishment and operation of the Asset Resolution Agency. 3) Under the business environment component, technical assistance will cover support for implementing the new accounting and audit laws; long term institutional capacity-building in the bankruptcy courts; advisory services for tax reform, and various studies on business environment.