WB mission to review restructured BB project
Tuesday, 2 February 2010
FE Report
The World Bank (WB) will begin an implementation review mission next week to take stock of the progress in the restructured central bank strengthening project, officials said Sunday.
A Bangladesh Bank official said the global lender would field a mission between February 7 and 16 to have a comprehensive look at the regulatory improvement since the restructuring of the project.
"It's the first mission since the project was restructured," the official said.
The 10-member team will be led by Kiatchai Sophastienphong and raise some key issues regarding the project's implementation.
The Central Bank Strengthening Project (CBSP) was taken up in 2003 to achieve a strong and effective regulatory and supervisory system for the country's banking sector.
The Washington-based global lender provided US$46 million in loans to implement the project, scheduled for completion in 2011.
The bank then replaced two project development objective (PDO) outcome indicators with three new indicators in order to ensure a more effective monitoring of progress toward meeting the PDO.
The three new PDO outcome indicators are as follows: (i) acceptance and implementation by Bangladesh Bank (BB) of Enterprise Resource Planning (ERP); (ii) acceptance and implementation by BB oft he banking application; and (iii) acceptance and implementation by BB of the data warehouse.
The restructuring also entails three other actions: (a) extension of the closing date by 24 months; (b) the addition of four activities to the existing reorganisation and modernisation component of the project; and (c) reallocation of funds among the 10 existing subcomponents of the project.
The World Bank (WB) will begin an implementation review mission next week to take stock of the progress in the restructured central bank strengthening project, officials said Sunday.
A Bangladesh Bank official said the global lender would field a mission between February 7 and 16 to have a comprehensive look at the regulatory improvement since the restructuring of the project.
"It's the first mission since the project was restructured," the official said.
The 10-member team will be led by Kiatchai Sophastienphong and raise some key issues regarding the project's implementation.
The Central Bank Strengthening Project (CBSP) was taken up in 2003 to achieve a strong and effective regulatory and supervisory system for the country's banking sector.
The Washington-based global lender provided US$46 million in loans to implement the project, scheduled for completion in 2011.
The bank then replaced two project development objective (PDO) outcome indicators with three new indicators in order to ensure a more effective monitoring of progress toward meeting the PDO.
The three new PDO outcome indicators are as follows: (i) acceptance and implementation by Bangladesh Bank (BB) of Enterprise Resource Planning (ERP); (ii) acceptance and implementation by BB oft he banking application; and (iii) acceptance and implementation by BB of the data warehouse.
The restructuring also entails three other actions: (a) extension of the closing date by 24 months; (b) the addition of four activities to the existing reorganisation and modernisation component of the project; and (c) reallocation of funds among the 10 existing subcomponents of the project.