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Ukraine
Strengthening Ukrainian Agricultural Commodity Exchanges
An Eccles Associates agricultural trade economist studied export patterns for agricultural products, detailing opportunities and constraints for expansion of business on 25 commodity exchanges in Ukraine.
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Ghana
Stock Exchange Feasibility Study
The project team examined the potential supply and demand for securities in the context of the need for establishment of a stock exchange. In its study, the team commented on legal, tax, accounting and other regulatory changes needed to permit effective functioning of an exchange and presented recommendations regarding the institutional framework.
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Kenya
Banking Seminar
As part of the Rural Private Enterprise Project, Eccles Associates conducted a two-day seminar on term lending for approximately 40 Kenyan bankers, stock brokers and private sector representatives. Eccles Associates made presentations on the experience of term lending in other developing countries and discussed sources of term funds for lending, i.e., commercial paper and rediscounting facility.
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Madagascar
Financial Market Development
Eccles Associates provided technical assistance and training to the Central Bank of Madagascar to support design and implementation of a non-inflationary market-based monetary policy. In addition, EA provided financial and management advisory services to the Caisse d'Epargne de Madagascar (a national savings bank) to support expansion and improvement of its operations in providing low-income households with safe, reliable, convenient and remunerative forms of financial savings.
The Central Bank component focused on the establishment of a Research Department and human resource development. The Caisse d'Epargne (CEM) component consisted of revitalizing the bank's operations through automating management systems and expanding the banks business and products, while proposing means of restructuring the banks organization, and preparing management and staff for the institutions privatization. Through discussions at the government and senior bank management levels and follow-up in-depth reports, EA financial experts:
· Developed a marketing plan for CEM and prepared the bank for new product introductions
· Developed a training plan for CEM
· Negotiated with bank regulators the steps for bank privatization
· Created an Action Plan in anticipation of privatization
· Analyzed and reported on the potential for creating a secondary market of Treasury Bills.
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Malawi
Indefund Participation in Capital Markets
Eccles Associates conducted a review for USAID of the financial and capital markets in Malawi with a view to determine the extent to which an existing, local financial institution could begin to fund itself in the local market and successfully lend to small and medium sized businesses (SMEs). The advisory team suggested market based sources of local funding which had previously been ignored by the financial institution because of the availability of donor funding and recommended a three year strategy for the local institution to achieve its desired objective, including utilizing a venture capital vehicle in the absence of donor funding.
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South Africa
Equity Access Systems
Eccles Associates currently provides historically-disadvantaged SMEs with investment advisory services. Eccles Associates and its local consortium partners provide those qualified client businesses with transaction-specific assistance in investment banking and/or venture capital-type activities. The assistance provided under the contract is designed to: (i) bring SMEs to the bankable stage by making them attractive candidates for venture capital investment and/or loan financing; and (ii) assist the SMEs in sustainable development after the financial transactions have been completed by providing marketing, managerial and technical support.
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Southern Africa Region
SADC Regionalization of Equity Markets
Eccles Associates provided the services of an expert in stock market clearing and settlement procedures. EA's advisor analyzed the current status of stock exchanges in South Africa, Zimbabwe, and Zambia. The expert analysis concentrated on clearing and settlement issues including trading rules and systems; exchange rules; the role of physical securities versus book entry; central depository; role of registrars and transfer agents; compliance of G-30 recommendations; and further development plans for the exchanges.
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The Gambia
The Central Bank of the Gambia; Implementation of Supervisory Methodologies
Eccles Associates provided technical assistance to the Central Bank of The Gambia in implementing supervisory methodologies as part of a program to improve banking supervision. The bank regulatory expert reviewed legislative reforms for the development of banking supervision by the Central Bank and more clearly defining the roles and powers of the Central Bank -- The Financial Institutions Act, 1992 and The Central Bank of The Gambia Act, 1992. Also reviewed the regulatory reporting requirements and assessed the effectiveness of the new banking oversight methods.
· Recommended, earned approval by the Central Bank, and implemented a new supervisory approach. The concept is known as on-going supervision and integrates on-site and off-site activities, the extent of supervision provided to each bank is based upon the risks perceived in the institution.
· Trained staff in the methodology and incorporated methodology into a manual -- Handbook for Banking Supervision. Outlined future training requirements.
· Recommended action plan for institutionalizing banking supervisory practices.
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Egypt
Capital Markets Training Project
Eccles Associates was subcontracted to implement a training needs assessment. As part of the project team, EAs senior training specialist completed the assessment and designed a training program for Egyptian Capital Markets Authority professionals to prepare CMA management and staff for growth in the market, to make efficiency improvements, and to ensure consistency with international standards.
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Jordan
Mid-Term Evaluation Capital Markets Development
Eccles Associates provided the services of an Underwriting Consultant to assist the Amman Financial Market and Ministry of Finance and Industry to formulate, develop, and supervise revised procedures throughout the financial market systems. The team of financial market experts reviewed the adequacy of trading facilities and procedures for processing securities transactions, including clearance and settlement systems, requirements for disparity, self regulation, regulatory basis for financial disclosure, and standards of corporate governance.
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Pakistan
Pakistan Stock Exchange
Eccles Associates mobilized stock exchange operations advisors to provide technical assistance to the Karachi Stock Exchange under the Private Investment Expansion Program.
· Evaluated the software requirements for the Central Depository and recommended package to the Chairman of the Corporate Law Authority.
· Reviewed and evaluated the Clearance, Settlement, and Safekeeping procedures.
· Prepared recommendations regarding systems and automation procedures for the clearance, settlement, and safeguarding process.
· Prepared guidelines for the development of the Central Depository.
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Philippines
Capital Markets Development Project Evaluation
Eccles Associates provided the services of a Stock Exchange Operations Specialist as part of a team of advisors assessing the effectiveness of the USAID/Philippines' Capital Markets Development Project. The Specialist was responsible for all tasks dealing with automated trading systems; clearing and settlement systems; and the depository function. The goal of the capital markets project was to enhance the operational capacity of capital markets so that an increase in the number and types of equity and debt securities becomes available to investors, thereby attracting additional investments and contributing to overall economic growth.
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Sri Lanka
Financial Markets Project Interim Evaluation
Eccles Associates led a team of financial market specialists to complete an interim evaluation of USAID/Sri Lanka's Financial Markets Project Component (FMP) of the Private Sector Policy Support Project. The evaluation assignment provided a detailed assessment of project implementation and progress achieved to-date, as well as the impact of the FMP on Sri Lanka's financial markets.
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LOAN GUARANTEE PROGRAM - BANK CAMEL ANALYSES
Financial Sector Development Project-II
Eccles Associates completed comprehensive CAMEL analyses on numerous selected banks and other financial institutions as part of the USAID Office of Credit and Investment Loan Guarantee Program. Senior commercial banking and credit specialists from Eccles Associates undertook the bank credit reviews for banks in Southern Africa, Asia, and Eastern Europe.
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Art by: Dumisani Sibisi |
