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According to the Bank’s website, the Madagascar Capital Market Development Project is aimed at facilitating access to long-term local currency financing for public and private projects and institutions by addressing financial system weaknesses that will enhance market efficiency, expand financial instruments, mobilize domestic savings and attract both local and international investors.
The objective of the project is to support the development and implementation of legal, institutional and capacity reforms to enable functioning and operationalization of capital markets in Madagascar. The project is expected to achieve the following by closure:
• New or amended regulatory framework and policies related to capital markets adopted/enacted.
• Recommended procedures/firm-level policies/practices/standards related to market infrastructure, government and non-government securities markets and money markets improved or eliminated.
• Improved capacity of institutional investors, regulators and market participants to participate in government and nongovernment bond markets, new asset classes and capital market instruments.
• A pipeline of demonstration transactions identified and supported for potential issuance.
Estimated Total Budget: $1,500,000.00 (Project budget includes all project-funded activities)
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