In regard to project performance assessment ratings, the Financial Markets Development Technical Assistance Project of Colombia had the following ratings: outcome was moderately satisfactory; sustainability was likely; institutional development impact was modest; Bank performance was moderately unsatisfactory; and borrower performance was moderately satisfactory. The Financial Sector Adjustment Loan had the following ratings: outcome was satisfactory; sustainability was likely; institutional development impact was substantial; Bank performance was moderately unsatisfactory; and borrower performance was satisfactory. The First Programmatic Financial Sector Adjustment Loan Project had the following ratings: outcome was satisfactory; sustainability was likely; institutional development impact was substantial; Bank performance was satisfactory; and borrower performance was satisfactory. Finally, the Second Programmatic Financial Sector Adjustment Loan Project had the following ratings: outcome was moderately satisfactory; sustainability was likely; institutional development impact was substantial; Bank performance was satisfactory; and borrower performance was satisfactory. Lessons learned from this assessment included: accurate, up-to-date sector information and analytical knowledge is critical for an adequate support to the financial sector; agility and quick reaction to crises requires adequate technical resources and streamlined decision-making; agility, flexibility, and openness to change are also crucial during implementation of a project or program; exploiting the synergies among different Bank instruments is crucial; and a programmatic approach to financial sector reforms is likely to require a time horizon of several years to allow for policy and institutional reforms to be translated into outcomes and results.
Details
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Document Date
2007/06/26
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Document Type
Project Performance Assessment Report
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Report Number
40139
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2007/08/09
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Disclosure Status
Disclosed
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Doc Name
Colombia - Financial Markets Development Technical Assistance Project, Financial Sector Adjustment Loan, and First and Second Programmatic Financial Sector Adjustment Loan Projects
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Keywords
Financial Sector;Country Assistance Strategies;country assistance strategy;interest rates on loan;clearance and settlement system;debt outstanding and disbursed;early stages of preparation;access to tertiary education;current account deficit;financial crisis;fiscal deficit;financial sector crisis;quality at entry;private capital market;public sector securities;Portfolio at Risk;public sector bank;financial sector policy;financial transaction tax;public sector finance;exchange rate band;local capital market;preferential interest rate;international financial institution;financial sector adjustment;social security reform;international capital market;financial sector supervision;issuance of bond;public sector efficiency;financial sector reform;public pension liability;interest rate risk;financial sector soundness;privatization of banks;technical assistance loan;international rating agency;international credit rating;financial market crisis;financial sector risk;quality of preparation;capital market development;system Financial;lower interest rate;peer review process;foreign capital inflow;standard of living;high oil price;social security system;deposit guarantee fund;pension fund system;risk and vulnerability;good financial management;public sector expenditure;promotion of competition;increase in expenditure;domestic interest rate;domestic financial sector;project costing;banking sector;Banking Supervision;monitoring indicator;pension liabilities;borrower performance;housing finance;external factor;money laundering;effective supervision;public bank;adjustment lending;
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Citation
Colombia - Financial Markets Development Technical Assistance Project, Financial Sector Adjustment Loan, and First and Second Programmatic Financial Sector Adjustment Loan Projects (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/329281468262790327/Colombia-Financial-Markets-Development-Technical-Assistance-Project-Financial-Sector-Adjustment-Loan-and-First-and-Second-Programmatic-Financial-Sector-Adjustment-Loan-Projects