The Financial Sector Assessment Program (FSAP) program has been brought back on track, after some difficulties, in early 2003 (which led to a delay in completing the first review). Although a start has been made in strengthening the banking sector, significant further work is needed. The central bank’s asset recovery plan is being implemented, despite strong opposition from vested interests. The authorities reaffirmed their commitment to their growth and poverty-reducing strategy presented in the December 2002 Poverty Reduction Strategy Paper (PRSP) progress report.
The International Finance Corporation, an affiliate of the World Bank which provides finance for private sector projects in the developing countries, has been involved in providing finance for agribusiness since 1964. This article discusses the Corporation’s experience in this sector.