Sri Lanka: Rural Finance Sector Development Program
sector: Finance | country: Sri Lanka
This validation agrees with the lesson stated in the project completion report (PCR) on complexity of program design and timing of implementation. Additional lessons can be drawn from program implementation. First, government commitment and buy-in is important in a reform program such as Rural Finance Sector Development Program. There should have been strong commitment of the government and stakeholders to develop the sector and achieve sustainable rural finance. Second, adequate assessment of institutional capacity of implementing agencies at formulation would have been needed to effectively address constraints. Third, in the context of Sri Lanka where the areas of reform are complex, the use of a sequenced approach to reforms would have been more appropriate.