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Support Program for Financial Sector
The program will contribute to the stability and solvency of El Salvador's financial system by strengthening the supervisory agencies for the financial sector. It will improve the capacity of the participating agencies individually, while at the same time encouraging and facilitating coordination, cooperation, and the smooth flow of information between them. The participating agencies are the Financial System Superintendency, the Deposit Insurance Institution, the Securities Exchange Superintendency, the Pension Superintendency, and the National Council of Judges through the School for Judicial Training. MIF resources will fund the following components: a) implementation of a planning and monitoring/control system to enable the superintendencies to manage their resources efficiently; b) human resource management; c) strengthening of management of the technological platform, permitting economies of scale in the selection, purchase and installation of information systems and the standardization of hardware, operational systems, and database software; d) implementation of international accounting principles in the financial sector; e) a training program for judges and commercial arbitrators; f) establishment of the Deposit Insurance Institution, through support to the Central Reserve Bank of El Salvador, including the development of regulations, organizational structures, procedures and manuals, and specialized advisory services; g) strengthening of the Financial System Superintendency, including bank supervision, supervision of non-bank intermediaries, supervision of insurance companies, and creation of a financial crimes investigation unit; h) strengthening of the Securities Exchange Superintendency, particularly with respect to accounting standards for issuers, regulation and supervision of investment funds, prospectuses for securities issues and public offerings, asset securitization, classification of financial crimes, regulation of the securities market, and book-entry system operation and clearing houses; and i) strengthening of the Pension Superintendency in the areas of new investment alternatives, evaluation of aspects of the pension saving system, and supervision of investments. The program will also fund the strengthening of technology management, through development of a short- and medium-term technology strategy and investment plan for the three superintendencies.

Project Detail

Country

El Salvador

Project Number

TC9808273

Approval Date

February 24, 1999

Project Status

Closed

Project Type

Technical Cooperation

Sector

REFORM / MODERNIZATION OF THE STATE

Subsector

PUBLIC EXPENDITURE MANAGEMENT

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

-

Total Cost

USD 5,040,500.00

Country Counterpart Financing

USD 2,078,300.00

Original Amount Approved

USD 2,962,200.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/MT-6400-ES Non-Sovereign Guaranteed USD - United States Dollar Technical Cooperation Facility Nonreimbursable
Operation Number ATN/MT-6400-ES
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Technical Cooperation Facility
  • Financial Instrument: Nonreimbursable

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Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-51990428-31
PPMR for MIF project TC9808273 - ATN_MT-6400-ES August, 2000 [1786077].PDF
Published Dec. 31, 1999
Download
https://www.iadb.org/document.cfm?id=EZSHARE-51990428-32
PPMR for MIF project TC9808273 - ATN_MT-6400-ES June, 2001 [1786078].PDF
Published Dec. 31, 1999
Download
https://www.iadb.org/document.cfm?id=EZSHARE-51990428-611
Supervision de Bancos con Enfoque en Prevención y Control de Riesgo [35237281].PDF
Published Dec. 31, 1999
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https://www.iadb.org/document.cfm?id=EZSHARE-51990428-1
Plan de Adquisiciones [333328].DOC
Published Dec. 31, 1999
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https://www.iadb.org/document.cfm?id=EZSHARE-51990428-4
Plan de Adquisiciones [779133].DOC
Published Dec. 31, 1999
Download
https://www.iadb.org/document.cfm?id=EZSHARE-51990428-610
Consulting Services [35235908].PDF
Published Dec. 31, 1999
Download
https://www.iadb.org/document.cfm?id=EZSHARE-51990428-609
Consulting Services [35235834].PDF
Published Dec. 31, 1999
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https://www.iadb.org/document.cfm?id=EZSHARE-51990428-608
Consulting Services [35235507].PDF
Published Dec. 31, 1999
Download
https://www.iadb.org/document.cfm?id=EZSHARE-184785340-9031
Program in Support of the Financial Sector in El Salvador [452256].PDF
Published Dec. 31, 1999
Download
https://www.iadb.org/document.cfm?id=EZSHARE-184785340-9032
Programa de apoyo al sector financiero en El Salvador [452258].PDF
Published Dec. 31, 1999
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