According to bank documents, launched in mid-2017, the Joint Capital Market Development Program (J-CAP) is a World Bank Group (WBG) initiative that leverages on the strengths of the WBG’s members, primarily World Bank (WB) and International Finance Corporation (IFC) to support the stakeholders’ effort in developing domestic capital markets in priority countries as a key source of long-term, local currency financing for the private sector, which in turn will contribute to more sustainable economic growth.
The project aims to develop and enable the use of domestic capital markets to mobilize long-term financing for key sectors, with a focus on infrastructure, MSMEs, local governments, and housing by combining public and private sector operations to introduce new products and instruments for a sustainable economic growth in the country.
*Contact information not provided at the time of disclosure*
ACCOUNTABILITY MECHANISM OF IFC
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