|Approval Date||26 Jul 2006|
|Signature Date||27 Nov 2006|
|Planned Completion Date||31 Dec 2009|
|Last Disbursement Planned Date||30 Jun 2010|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
Egypt’s Financial Sector Reform Program (FSRP) represents a comprehensive and far-reaching program of reforms. It seeks to enhance the efficiency of financial intermediation and risk management in the economy, to build safe and sound banking and non-bank financial sectors through comprehensive structural and financial reforms that will accelerate economic growth and development. The FSRP is follow-on to the significant economic reforms that Egypt has implemented over the past decade and a half that have contributed to the achievement of macroeconomic stability over the period. Even though financial sector reforms were part of the previous economic reform programs, they generally did not go far enough, and were also not fully implemented. The program will contribute significantly to the development of a market-based, competitive and sound financial system after it is fully implemented.
The objective of the program is to develop a marketbased, efficient, competitive and sound financial system that could better serve Egypt’s development and growth objectives.
The beneficiaries of the program are: private sector businesses and individuals using banking and insurance services, Banking Supervision Department (BSD) of Central Bank of Egypt (CBE), Egyptian Insurance Supervisory Authority (EISA), insurance companies and insurance customers, corporate and individual investors and participants in the capital market.
African Development Bank
Government of Egypt
Ministère de l’Investissement
|Last Update||21 Oct 2020|