Financial Markets Program for Private Sector Development

A key success of a reform program is the relevant design that incentivizes strong government ownership on institutional strengthening, in this case, by improving bank's operational management: supporting profitable business lines such as pawning, tightening credit reviews and recoveries to reduce nonperforming loans (NPL), and controlling overhead costs such as reducing headcounts to improve performance on a per employee basis. The fact that People's Bank continued restructuring and committed itself to performance indicators to improve bank operations over and beyond what was agreed to under the program underscored the success and sustainability of the ADB support.