IT Governance in Banks, workshop organized by USAID Finance for Economic Development (FED) Program in Yerevan, Armenia in May, 2014

1. FINANCE FOR ECONOMIC DEVELOPMENT (FED) PROGRAM
LAUNCH EVENT
July 17, 2013

2. THE FED PROGRAM
2/6
A four year, $ 3.7 million program,
funded by USAID
Implemented by
Cardno Emerging Markets Group USA
Ltd.

3. THE FED PROGRAM
3/6
Goal of the program:
Broaden and deepen financial intermediation and improved
financial services for micro, small and medium enterprises , to
promote economic development and growth.
Support the sound development of the financial sector through
enhanced legal and regulatory practices and opportunities for
financial sector innovation and infrastructure development.
Support pension reform through broadening capital markets

4. THE FED PROGRAM
4/6
3 expected results:
Increased availability of relevant, affordable and effective
financial services for MSMEs throughout Armenia
Improved regulatory and institutional framework for a more
effective and stable financial sector
Strengthened financial sector foundations for pension
reform

5. COORDINATION WITH COUNTERPARTS
5/6
Government
Counterparts CBA, MoF, MoE, MLSA
Financial Sector UBA, UCORA, AAAA,
ASA, AIA
Donors World Bank, IFC,
EBRD, etc.
USAID Projects EDMC, PRIP, TRP,
Counterpart, PRP

6. Component 1: Financial Intermediation
6/20
Support increased availability of financial
services to MSMEs throughout Armenia
Strengthen the financial sector (bank and
non-bank)
Cooperation and joint action plans with UBA
and UCORA

7. Component 1: Financial Intermediation
7/20
Promote new financing sources for
MSMEs:
Equity, investment funds, IT-based products
Support start-up of ECA (export credit insurance agency)
Use of USAID DCA guarantees to support MSME
financing

8. Component 1: Financial Intermediation
8/20
Promote communication between lenders
and local communities, associations and
groups of MSMEs and rural enterprises
Promote financial literacy of micro and
rural enterprises, and their awareness of
available financial services

9. Component 2: Institutional Framework
9/20
Capacity-building in the area of:
Financial markets regulation, in accordance with
international standards and best practices
Accounting, auditing and actuarial professions,
with support and technical assistance to
professional bodies

10. Component 2: Institutional Framework
10/20
Support for:
Expanded usage of IT to develop financial services for
MSMEs
Strengthened framework for secured transactions and
collateral registry
Increased pool of financial sector professionals in the
workforce

11. Component 2: Institutional Framework
11/20

12. Component 3: Pension Reform
12/20
Support CBA in:
Regulating, supervising and setting governance
standards for pension fund operators
Formulating investment policies for pension
contributions

13. Component 3: Pension Reform
13/20

14. Component 3: Pension Reform
14/20