Nepal - Finacial Sector Restructuring Project

Page 1 Integrated Safeguards Data Sheet (Negotiation Stage) Section I - Basic Information Date ISDS Updated: 12/19/2003 A. Basic Project Data (from PDS) I.A.1. Project Statistics Country: NEPAL Project ID: P084219 Project: Financial Sector Restructuring Project Task Team Leader: Simon C. Bell Authorized to Appraise Date: November 15, 2003 IBRD Amount ($m): Bank Approval: February 24, 2004 IDA Amount ($m): 75.5 Managing Unit: SASFP Lending Instrument: Specific Investment Loan (SIL) Status: Lending Sector: Banking (100%) Theme : State enterprise/bank restructuring and privatization (P) I.A.2. Project Objectives (From PDS): The objective of this operation is to support the continuing efforts of HMGN to improve the financial sector in order to bring macroeconomic stability and promote private sector-led economic growth. The proposed involvement is the second phase of a larger financial sector reform effort which would lead ultimately to a third and final phase of reform involving privatization of state owned commercial banks. Phase I involved bringing in three management consultant teams to: restructure and re-engineer the central bank; and reform the two commercial banks (Rastriya Banijya Bank