State Bank OF Pakistan

Mission Statement :

To mainstream the agriculture and rural finance sector in the country’s financial system as a commercially viable and attractive business line and to catalyze growth and activity in the sector through sector friendly policies.

Vision Statement:

To transform ACD into a professional and dynamic Rural Finance Support Department, fully equipped to play a leading role in development of a sound, stable and robust agriculture and rural finance sector in the Country.

About Us:

Agricultural Credit Department established under Section 8(3) of SBP Act 1956 and headed by a Director, is working within the overall charge of ED/Advisor on Development Finance. The Department is mainly responsible to meet credit needs of agriculture, being mainstay of Pakistan’s economy, generates nearly one fourth of the total out put and 42% of total employment and is a major source of foreign exchange earnings. The other functions of the department are as under:-
1. To operate as a focal point in SBP for all agriculture and rural finance policies, programs and projects.2. To assess/estimate the credit needs of farm & non farm sector in rural areas.3. To review the issues/challenges faced, developments taking place in agriculture/ rural finance both in the country and elsewhere, develop an adequate knowledge/ information base for policy formulation, etc.4. To formulate agri & rural finance policies in consultation with stakeholders and to ensure adequate flow of institutional credit in rural areas.5. To monitor growth and trends in agri/rural finance portfolio of banks & financial institutions.6. To collect periodical agri/rural finance data for analysis, policy formulation and dissemination to general public.7. To advise Federal and Provincial Governments, Banks, Cooperative Banks & Agriculture Chambers on agri & rural finance issues.8. To initiate and undertake information dissemination and awareness building programs for farmers and special training programs for commercial banks.9. To build SBP rural and agriculture finance capacity and.10. To operate as Secretariat for Agriculture Credit Advisory Committee (ACAC).

Agriculture Credit Estimation & Target Monitoring Division:

1. Agriculture credit estimation/assessment in consultation with stakeholders; 2. Allocation of indicative agri credit targets to banks; 3. Periodical monitoring of agriculture credit targets; 4. To undertake all functions relating to Agriculture Credit Advisory Committee (ACAC); 5. Follow-up for implementation of ACAC decisions; 6. Sanction of SBP credit line to Punjab Provincial Cooperative Bank Ltd. and its monitoring; 7. Managing Credit lines outstanding against Zarai Taraqiati Bank Ltd.; 8. Sharing of bonafide losses with five big commercial banks; 9. Collection of periodical agri finance data from banks and its dissemination on website and media.

Banking Inspection Department:

Banking Inspection Department (BID) is one of the core departments at SBP. Its mission is to strive for soundness & stability of the financial system and safeguard interest of stakeholders through proactive inspection, compatible with best international practices.
BID plays a pivotal role in meeting SBP’s main responsibility of supervising the financial institutions to maintain soundness of the system and protection of the interest of depositors, thereby ensuring public confidence in the system. In order to assess a financial institution, BID conducts regular on-site inspection of all scheduled banks inclusive of the foreign banks & DFIs. The present supervisory structure at the department is institution focused whereby concerned Desk In-charges (Senior Joint Directors, Joint Directors & Junior Joint Directors) have been assigned specific institutions for effective monitoring through on-site examination, off-site reports from Banking Supervision Department and various market reports.
The regular on-site inspection is conducted on the basis of CAMELS Framework. (Capital, Asset Quality, Management, Earnings, Liquidity, Sensitivity and System & Controls). CAMELS is an effective rating system for evaluating the soundness of financial institutions on a uniform basis and for identifying these institutions requiring special attention or concern. Here the focus of inspection is generally on risk assessment policies & procedures of the banks and control environment to keep attached risks within acceptable limits and compliance with laws, regulations and supervisory directives. In continuation of the inspection process, discussions are held with external auditors to review banks’ internal controls, compliance with legislation & prudential standards and adequacy of provisions. Here it would be important to mention that BID works in close coordination with Off-Site Surveillance Desk at Banking Supervision Department and other departments in SBP.
BID conducts the regular full scope examination of banks pursuant to an inspection schedule; however, flexibility exists in policy for frequency of inspections depending upon the need to maintain safety & soundness. CAMELS rating is a criteria to determine the frequency of inspection of banks as weak institutions are given greater attention. Special investigations (targeted inspections) are also conducted as and when circumstances so warrant on the basis of complaints or market reports about specific institution.Examiners document their assessment of the overall risks posed by each bank in the inspection work papers and summarize their inspection findings in the form of inspection reports. In formulating this assessment, examiners consider all available sources of information including, but not limited to: findings, scope and recency of previous inspections, ongoing monitoring efforts of off site surveillance desks, information received through pre-inspection letters or other communications, regulatory reports and published financial information, reports of internal and external auditors.
Beside the regular inspection report, BID also prepares statutory reports under Section 25-AA of the Banking Companies Ordinance 1962 for banks regarding written-off loans, mark-up and other dues, or financial relief through rescheduling & restructuring of loans, on yearly basis and is submitted to Federal Government. Additionally, BID also submits a Quarterly Report to Federal Government under section 40A of Banking Companies Ordinance 1962 giving shortcomings and violations on the part of banking company’s management. BID also conducts inspection of exchange houses under regulation No 32 formulated under Clause (ii) of subsection 3AA of Foreign Exchange Regulation Act 1947.

Our Vision:

To transform Banking Surveillance Department into a highly professional and dynamic department fully equipped to proactively and effectively supervise the banking system.

Our Mission:

To promote soundness and stability of the Banking System through proactive and effective supervision.

Introduction:

Health of an economy depends on the degree of safety and stability of its banking and financial system. A sound, stable and robust banking and financial system is a pre-requisite for economic well being of a country and its populace. In Pakistan, ensuring the stability and soundness of the banking system is a statutory responsibility of State Bank of Pakistan. The banking supervision departments viz. Banking Policy and Regulations Department (BP&RD), Banking Surveillance Department (BSD), Off-Site Supervision and Enforcement Department (OSSED) and Banking Inspection Department (BID) have been assigned this important function to work jointly and severally to ensure the soundness of individual banks and of overall banking industry. The Banking Surveillance Department is responsible to supervise financial institutions in the country. The department ensures effective adherence to regulatory and supervisory policies, monitors risk profiles, evaluate operating performance of individual banks/DFIs and the industry as a whole while issuing guidelines for managing various types of risks. It also ensures that banks are adequately capitalized and have policies and systems in place to assess various risks. The department is also responsible for the implementation of the Basel II Accord in Pakistan. The function and activities of Credit Information Bureau (CIB) also falls within the domain of Banking Surveillance Department. The CIB collect credit data, under section 25A of the Banking Companies Ordinance 1962, maintain its database and disseminate credit information to financial institutions online to facilitate their credit appraisal process. The main objectives/key result areas of the Department are;

Bank of England

News ReleaseBank of England Reduces Bank Rate by 0.25 Percentage Points to 5.0%

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.0%.
CPI inflation rose to 2.5% in February. The Committee expects inflation to rise further this year, reflecting the continuing impact of higher energy and food prices, as well as the recent depreciation of sterling on import costs. Such pressures are already evident in producer input costs and pricing intentions.
Even if commodity prices remain at their current high levels, inflation should fall back. But to ensure that inflation meets the 2% target in the medium term, the Committee needs to balance two risks. On the upside, above-target inflation this year could raise inflation expectations so that, in the absence of some margin of spare capacity, inflation would remain above the target. On the downside, the disruption in financial markets could lead to a slowdown in the economy that was sufficiently sharp to pull inflation below the target.
In the Committee’s judgement, the balance of these risks to the inflation outlook in the medium term justifies a cut in Bank Rate this month. Credit conditions have tightened and the availability of credit appears to be worsening. While the recent depreciation in sterling will support net exports, the prospects for output growth abroad have deteriorated. In the United Kingdom, business surveys suggest that growth has begun to moderate and that a margin of spare capacity will emerge during this year. This should help to keep domestic inflationary pressures in check in the medium term.
Against that background, the Committee judged that a reduction in Bank Rate of 0.25 percentage points to 5.0% was necessary to meet the 2% target for CPI inflation in the medium term.

Speeches

This section of the site provides details of speeches made by Bank personnel which have been made available to the public.
You can search for them by date, speaker or subject using the links under the navigation.
Hard copies of speeches (including those not available on this site) can be obtained by contacting our Public Information & Enquiries Group by:

Phone: +44 (0)207 601 4878

E-mail: enquiries@bankofengland.co.uk

For other contact details, see our Contact Us

Main Publications

Here you can find all of the Banks' main regular publications, including the Inflation Report, Quarterly Bulletin and the Financial Stability Review.

Inflation Report

The Inflation Report sets out the detailed economic analysis and inflation projections on which the Bank's Monetary Policy Committee bases its interest rate decisions, and presents an assessment of the prospects for UK inflation over the following two years.

Overview of the Inflation ReportFebruary 2008

The disruption to global financial and credit markets continued. Current and expected policy rates fell. Sterling depreciated substantially. In the United Kingdom, output growth moderated to around its long-term historical average rate. Consumer spending growth appeared to soften and the climate for investment deteriorated. International prospects worsened, especially in the United States. Under the assumption that Bank Rate falls in line with market yields, the Committee's central projection is for output growth to slow markedly this year and then gradually start to recover. The risks to growth are weighted to the downside.
CPI inflation was close to the 2% target in December. Pay growth was steady. But some measures of inflation expectations rose. In the central projection, higher energy, food and import prices push inflation up sharply in the near term. Inflation then drops back to a little above the 2% target in the medium term, as the temporary boost from higher energy prices disappears and capacity pressures moderate. The risks to inflation are balanced. The combination of slow growth and above-target inflation poses substantial challenges for policy.

Financial markets

Global financial markets have been febrile since the November Report, and are vulnerable to further shocks. Equity prices declined, reflecting the deterioration in the economic outlook. The market for securitised debt remained virtually closed. Although conditions in money markets improved somewhat, term interest rates remained well above expected policy rates, reflecting heightened concerns about creditworthiness.
Against that background, UK banks tightened the terms offered on new loans to households and businesses. And the potential deterioration in banks' capital ratios as off balance sheet loans are re-intermediated may further restrain new lending. But it is difficult to judge the eventual impact on demand, particularly since falling asset prices could interact with banks' capital requirements and borrowers' collateral limits to amplify the contraction in spending.
Market participants' expectations of the near-term path of policy rates fell. The MPC cut Bank Rate by 0.25 percentage points to 5.5% at its December meeting. Market participants expected Bank Rate to fall to around 4.5% during 2008.
The sterling effective exchange rate depreciated by 6%, the largest three-monthly fall since the exit from the ERM. Market concerns about the size of the UK current account deficit - the highest relative to GDP in the G7- may have been a factor.

Domestic demand

Consumers' expenditure rose strongly in the third quarter. But there are signs that household spending growth has since moderated, perhaps reflecting earlier increases in Bank Rate and heightened uncertainty about the outlook. Residential property prices stagnated and indicators of housing activity weakened further. Tighter credit conditions, the desire to rebuild savings and a squeeze on real income growth are likely to check spending growth.
Business investment rebounded in Q3. But investment intentions eased towards the year end. The weaker and more uncertain outlook for demand, reduced access to external finance and falling commercial property prices are all likely to weigh on capital spending over the coming year.
Government spending continued to make a moderate contribution to overall demand growth. According to the fiscal plans set out in October's Pre-Budget Report, the public sector's contribution to nominal demand growth is set to decline over the forecast period.

Overseas trade

International economic prospects have deteriorated since the November Report. In the United States, GDP growth fell sharply, the labour market weakened and the weakness in the housing market appeared to be spreading to other parts of the economy. As a result, the Federal Reserve reduced official interest rates substantially. In the euro area, business surveys pointed to some softening in output growth from its recent firm pace. In contrast, the emerging market economies of Asia continued to expand robustly.
Overall, the Committee expects a modest slowing in the growth of the main UK export markets, though by somewhat more than in November. That is offset by the depreciation of sterling, which can be expected to boost UK competitiveness. Consequently net trade is expected to add to GDP growth over the next few years, contrary to the experience over much of the past decade.

The outlook for GDP growth

GDP growth moderated to 0.6% in Q4 according to the ONS's preliminary estimate, with the slowdown concentrated in the financial and retail sectors. Business surveys and reports from the Bank's regional Agents point to a further modest deceleration in activity in early 2008.
Chart 1 shows the Committee's best collective judgement for four-quarter GDP growth, assuming that Bank Rate follows the declining path implied by market yields. The fan also extends into the past, reflecting the present uncertainty about the final estimates of GDP. In the central projection, output growth slows markedly through 2008 as tighter credit conditions and weaker real income growth bear down on domestic demand. Growth then starts to recover, as credit conditions improve and the effects of lower interest rates and weaker sterling work through. The projected slowdown is somewhat deeper and more prolonged than in the November Report.

Costs and prices

CPI inflation remained close to target in December, at 2.1%. Higher prices for energy, food and imports are set to push up inflation again in the near term. The extent to which consumer prices increase will depend on whether businesses and retailers can pass on higher input costs. Suppliers of domestic energy have already announced large retail tariff increases. And survey measures of businesses' pricing intentions remain elevated, suggesting that many businesses intend to pass on cost increases. But there are indications that retailers have been accepting lower profit margins in order to maintain sales volumes. Were this to continue, it would attenuate the pass-through into prices paid by consumers.
Private sector pay growth was relatively muted last year. There are few pay settlements for 2008 available so far, but according to a survey of contacts of the Bank's regional Agents, companies expect awards to be similar to those in 2007. Measures of labour market tightness based on official data have changed little over the past few months, although survey measures point to some easing.
A central question is whether the episode of above-target CPI inflation during 2006-07 and the prospective repeat this year will prompt a sustained rise in inflation expectations, with a risk of heightened inflationary pressures in the medium term. Survey measures of household inflation expectations have risen over the past year or so. Measures derived from financial market instruments also rose, though that may reflect factors specific to the index-linked gilts market.

The outlook for inflation

Chart 2 shows the Committee's best collective judgement of the outlook for CPI inflation, assuming that Bank Rate falls in line with market yields. In the central projection, higher energy, food and import prices push inflation up sharply in the near term. Inflation then eases back to a little above the 2% target in the medium term, as the near-term rise in energy prices drops out of the twelve-month rate and capacity pressures moderate. The profile is higher than in the November Report, particularly in the near term. A similar projection, which assumes that interest rates remain constant at 5.25% (Chart 3), shows the central projection for inflation settling below the target in the medium term.

The policy decision

At its February meeting, the Committee noted that the immediate prospect was for a combination of above-target inflation and sluggish output growth. The Committee also noted that slower demand growth, by reducing the pressure on capacity, was likely to be necessary to return inflation to the target in the medium term. Under market interest rates, the central projection for inflation was a little above the target in the medium term, while under constant interest rates, it was below the target. There were particular uncertainties relating to the severity of the tightening in credit conditions and the future path of inflation expectations. The key challenge for policy was to balance these conflicting risks. The Committee judged that a reduction of 0.25 percentage points in Bank Rate to 5.25% at its February meeting was necessary to meet the target for CPI inflation over the medium term.

Auto Loan

What we do

Bankrate, Inc. is the Web's leading aggregator of financial rate information. Bankrate's rate data research offering is unique in its depth and breadth. Bankrate continually surveys approximately 4,800 financial institutions in all 50 states in order to provide clear, objective, and unbiased rates to consumers. Our flagship Web site, Bankrate.com, provides free rate information to consumers on more than 300 financial products, including mortgages, credit cards, new and used automobile loans, money market accounts, certificates of deposit, checking and ATM fees, home equity loans and online banking fees.
In addition to rate data, we publish original and objective personal finance stories to help consumers make informed financial decisions. Our staff of award winning reporters and editors provides expert advice on just about every major financial decision facing our readers: from purchasing their first home, to selecting a new car, to saving for retirement. Bankrate's unparalled combination of comprehensive rate information and original financial content is what makes us unique and such a valuable resource to our audience.
Bankrate provides financial applications and information to a network of distribution partners via multiple media channels. Our data is distributed online throughout our vast network of partner Web sites, including AOL, Yahoo!, and MarketWatch. Hundreds of print publications depend on Bankrate as the trusted source for financial rates and information, including 8 of the top 10 newspapers in the country. And we're in broadcast: "The Bankrate.com Personal Finance Minute" plays over 200 times per day on XM Satellite Radio, Armed Forces Radio and several local stations across the country. You will see our data frequently referenced on "CNN Headline News" and CNBC and our cooperative production of "Your Money Minute with Bankrate.com" airs weekdays on ABC affiliate WPBF News.

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Thomas R. Evans President and CEO

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Robert J. DeFrancoSenior Vice President of Finance

Robert J. DeFranco joined Bankrate in March of 1999. He served as the Company's Chief Financial Officer from October 2000 thru March 2006. From 1986 to 1999, he held various positions in corporate accounting and finance for companies including Ryder System, Inc., Southeast Banking Corporation, SunTrust Banks, Inc. and Ocwen Financial Corporation. His experience includes all aspects of corporate accounting and finance and internal and external financial reporting - including SEC reporting, mergers and acquisitions (analysis, integration and accounting), corporate re-engineering, budgeting and forecasting. A Certified Public Accountant and a member of the American Institute of Certified Public Accountants, Mr. DeFranco was part of the commercial audit division of Arthur Andersen & Co., Miami, Fl., from 1978 to 1986.

Edward J. DiMariaSenior Vice President, Chief Financial Officer

Edward J. DiMaria joined Bankrate in April 2006. Prior to joining Bankrate, Mr. DiMaria has held Senior Vice President and Chief Financial Officer positions at Official Payments Corporation and Best Friends Pet Care, Inc. He also has a broad M&A and project management background, consulting with companies such as Jostens Intermediate Holdings, Inc., where he spearheaded an acquisition completed by KKR, as well as Financial Interactive, Inc., Navisite, Inc., and CorVu Corporation.

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Mr. Hoogterp has served as Senior Vice President and Chief Technology officer of Bankrate since May 2005. From 2002 to 2005, he was Chief Executive Officer of TQuist, LLC, a technology consulting company. From 2001 to 2002, he served as Executive Vice President and Chief Technology Officer of Enamics, Inc., a company specializing in business technology management. From 1999 to 2001, he served as SVP and CTO of Sagemaker, Inc., a provider of enterprise information portals to energy, telecom, insurance and other industries. From 1991 to 1999, he served as CEO and Chief Architect of Retrieval Technologies, Inc. In each position, Mr. Hoogterp focuses on linking business operations and drivers with innovative, timely technology solutions. He is an occasional speaker at events in search engine and online service areas.

Steven L. HorowitzSVP, Product and Business Development

Steven L. Horowitz has served as Senior Vice President, Product and Business Development since May 2005. Steve joined Bankrate as Vice President and Publisher in October of 2004. Prior to that, he spent two years (2002 to 2004) at America Online (Time Warner), most recently as Vice President eCommerce Classifieds. From 1998 to 2002, he held Director and Senior Manager positions with Yahoo! and GeoCities, Inc. (a community/web publishing destination acquired by Yahoo! in 1999) specializing in business and sales strategy for their classifieds and local properties. Additionally, Steve served as Associate Director of Internet Marketing for BMG Music Club at BMG Direct, Bertelsmann (1998), Director of Internet Venues at a start-up entertainment website (1996 to 1997) and Online Publicist for Tuner Entertainment Group at Tuner Broadcasting Systems, Inc. (1995 to 1996).

Michael J. RicciardelliSenior Vice President, Consumer Marketing

Michael Ricciardelli was appointed Senior Vice President, Consumer Marketing after joining Bankrate in September 2006. Prior to joining Bankrate, he was Vice President - Marketing & Media Sales at Apartments.com/Classified Ventures where he managed all marketing functions and online advertising sales efforts. From 1999 to 2003, he was Co-Founder & Vice President of Strategic Development for Insurance.com - venture funded by Fidelity Capital and sold in 2003 to Comparison Market. Earlier in his career, Mr. Ricciardelli also held positions in strategy consulting and business development at Fidelity Investments, and financial analysis at Salomon Brothers.

Donaldson M. RossSenior Vice President, Chief Revenue Officer

Donaldson M. Ross joined Bankrate in September 2006. Prior to joining Bankrate, Mr. Ross was Senior Vice President - Sales & Marketing for Harris Connect the foremost leader in affinity marketing for the directory, internet and data services business in the education and association market place. Earlier in his career, Mr. Ross held an executive management position at zUniversity.com. Mr. Ross also worked at U. S. News & World Report in various media sales and sales management positions for 11 years where he rose to the position of Vice President of Advertising Sales.

Lynn E. VarsellSenior Vice President, Publisher

Ms. Varsell was appointed Senior Vice President, Publisher after joining Bankrate in May 2005. From 2003 to 2005, she served as iMedia Ad Sales Marketing Director for Discovery Communications overseeing 14 television networks. From 1999 to 2002, she served as Vice President, Design & Development for Official Payments Corp., specializing in processing consumer credit card payments for government taxes, fees and fines. From 1996 to 1999, she held various creative and development positions at Disney Internet Group including Creative Director of ABC.com, Oprah.com and Oscar.com where she was responsible for launching Oprah.com on the web and developing the first successful synch-to-broadcast event. Ms. Varsell holds a Bachelor of Arts degree with honors from Boston College and a Master Degree in Interactive Telecommunications from New York University Tisch School of the Arts.

Bruce J. ZancaSenior Vice President and Chief Marketing/Communications Officer

Bruce J. Zanca joined Bankrate in July of 2004. Previously, Mr. Zanca owned and operated his own communications consulting practice. Earlier in his career, he held the top communications and investor relations posts at both GeoCities, Inc. and Official Payments Corporation. He was a Vice President of corporate communications at U.S. News & World Report Magazine from 1995 to 1998. And, from 1981 through 1992, Mr. Zanca was a press aide in the Reagan and Bush administrations. There, he was a White House Spokesman and deputy to Marlin Fitzwater in the first Bush White House

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world bank at work

Turkeys Development Results

Over the last four years, the number of Turkish girls in secondary school has increased, from 42% in 2001-02 to 51% in 2005-06. The time it takes to start a business has dropped from thirty-eight days in 2003 to nine days in 2006. 34,000 apartments were built to benefit victims left homeless after the Marmara earthquake. These are a few examples of how Turkey has made great strides in reducing poverty rates, improving health and education and strengthening the country’s macroeconomic underpinning. The World Bank has helped to contribute to these development successes by providing advice and resources and sharing experience gained through similar projects in other countries

The Economy

Turkey has been effective in its poverty reduction efforts, with the poverty rate of 27% in 2002 dropping to just under 18% in 2006. These numbers represent large parts of the population that are reaping the benefits that come with sustainable development, including improved health, better education, and the prospect of a better life for their children.

The Government’s aggressive reform efforts have led to consistent improvements in the country’s macroeconomic situation. Since 2001, the country has seen continued progress in its overall economic situation, including an average GDP growth of 7 % over the last five years and inflation reaching a historical low of 7.7 % in 2005 down from 55% in 2001.

Making Better Health a Priority

Turkey is seeing real improvements in the health sector, with a significant reduction in infant mortality, from 43 per 1,000 live births in 1998, to 24 per 1,000 live births in 2005 according to data released by the Ministry of Health. Further, the life expectancy at birth is now 72 years. These results stem from a number of initiatives and major ongoing reform efforts in the health sector.
Under the Health Transition Project and the Programmatic Public Sector Development Policy Program, the Government has made important steps towards the comprehensive reform of the health sector, including the introduction of Universal Health Insurance. The aim of Universal Health Insurance is to effectively provide health insurance coverage for all Turkish citizens, including the estimated 10 million people who currently are not covered by any insurance at all.
The previous system was highly fragmented, with certain hospitals only available to specific groups and high inequalities of care. The new system aims to make better health care available to all citizens and the Government is planning to subsidize the premium payments for Turkey's poor. The Government's comprehensive reform program also includes other important initiatives, including the introduction of family medicine for the provision of primary care services and granting more autonomy and responsibility to public hospitals to improve their efficiency and effectiveness in delivering health services to their patients.

Supporting sustainable natural resource management

Turkey is one of the most biologically diverse countries in the region. For example, around 1,200 of its 10,000 plant species are endemic to the country, and are found only in Turkey. In addition, over 100 Important Bird Areas have been identified in Turkey, largely wetlands providing nesting habitats and food sources for huge numbers of birds passing between Africa and Europe during their seasonal migrations. Yet despite Turkey’s rich biodiversity, there are few pristine areas left. The major challenge is to conserve the habitats that remain while more fully involving local communities in their management. Through the Biodiversity and Natural Resources Management Project, Government has been working with communities to develop and implement plans for managing 4 priority nature protection sites, and the lessons learned from these sites are being extended to another 9 protected areas across the country.
Government has been making headway with other efforts to protect the environment as well. Under the Anatolia Watershed Rehabilitation Project (AWRP), community-based microcatchment (MC) plans to protect degraded areas from further degradation, erosion and pollution, were prepared and implementation is currently underway in 76 villages. These will be the first of as many as 120 additional villages that will benefit from the project and will compliment similar efforts by other donors.

Moving Forward

Turkey is making progress in its development across a range of sectors, including modernization of the cadastre and land registry systems, increasing the efficiency of the energy sector and helping growing businesses get access to the capital they need to grow. The country as a whole is moving forward, and they are seeing results.

WHO CAN USE THE PUBLIC INFORMATION CENTER?

Public Information Centers are open to the public. No fee is required to use the PIC. Users can access information from the Internet and thousands of World Bank publications and other development related materials.

WHAT SERVICES ARE OFFERED?

Online access to World Bank project documents, reports, and publications.
Access to development and research sites on the Internet.
Access to a special collection of CDs and videotapes on development.
Access to development-related publications by international institutions, governments, and NGOs.
Access to an extensive cataloguing system that allows users to see the collection of around 80 World Bank PICs around the World

WHAT REPORTS AND DOCUMENTS ARE AVAILABLE?

Project Information Documents (PIDs). These are documents that give brief summaries of evolving projects. They are updated and expanded as the project preparation proceeds.
Project Appraisal Documents (PADs). These contain descriptions of a project and the plan for its implementation, including procurement procedures. They are made available to the public after presentation to the World Bank's Board.
Economic Sector Reports. These include macroeconomic analysis of Turkey's economy, analyses of major economic sectors and other reports on specific issues, such as poverty assessments, etc.
Environmental Assessments (EAs). EAs are detailed studies required for projects likely to have significant impact on the environment. Such studies are available before the final appraisal of the viability of the project.
Loan (or Development Credit) Agreements. These are records of loan amounts and terms and conditions on which the loan is made. They also record the borrower's general commitment to the project objectives. The agreements are made available to the public after the loan agreement is signed and declared effective or ready for disbursement.
Bidding and consultant documents. These provide guidelines for borrowers and their implementing agencies in the procurement of goods, works and consulting services.
UN Development Business. A United Nations publication that publishes general procurement notices for goods, works, and services to be procured through international competitive bidding for each Bank-financed project.

Information for Bidders and Consultants

The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) provide average annual lending commitments for investment projects of US$10-US$15 billion a year. These funds are used by recipient countries to purchase goods and equipment, construct civil works, and obtain the consulting services needed to implement these projects. Each project may involve many separate contracts and business opportunities for suppliers, contractors, and consultants worldwide.When pursuing business opportunities in projects financed by the World Bank, it is essential to understand that the implementing agency in the recipient country is responsible for procurement. All contracts are between the borrower (usually the government department that is its implementing agency) and the supplier, contractor or consultant. The Bank’s role is to make sure that the borrower’s work is done properly, that the agreed procurement procedures are observed, and that the entire process is conducted with efficiency, fairness, transparency and impartiality.

The Development Gateway Market (dgMarket) is a global online marketplace providing information on donor and government-funded tenders. Currently, dgMarket publishes tender notices for projects funded by the African Development Bank, the Asian Development Bank, Europe Aid, European Bank for Reconstruction and Development, European Investment Bank, EU members states, Phare/Tacis, and the World Bank. For more information, contact: info@dgmarket.com.
The United Nations produces UN Development Business which provides information on business opportunities generated through the World Bank, regional development banks, and other development agencies. Development Business is available in either print format or by online subscription. For more information contact the Development Business Liaison Office at Tel: (202) 458-2397; Fax: (202) 522-3316 or E-mail: dbusiness@worldbank.org.

online banking 2008

Migration and Remittances Factbook 2008

This contains statistical snapshots for 195 countries and 13 regional and income groups. The 200+ tables, each focused on one country, region, or income group, explore immigration, emigration and skilled emigration, and inward and outward remittance flows. Summary reports on the top 10 countries in each category are also included.

Financing Energy Efficiency

This book argues that weak economic institutions in developing and transitional economies impede the development and financing of energy efficiency retrofits, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.

Public Finance in China

Public Finance in China brings together analysis and insight from high-level Chinese policy-makers and prominent international scholars in addressing key challenges China is facing in maintaining rapid growth and achieving the Government's stated goal of creating a harmonious society.

Remittances and Development

This book explores the large heterogeneity in migration and remittances patterns, development impact, and policy implications across Latin America and the Caribbean, ranked at the top of remittance-receiving regions. Its analysis helps policy makers trying to respond to increasing remittances flows.

China Urbanizes

China Urbanizes discusses the consequences of urbanization in China and identifies the key strategies and policies for sustaining desired rates of urban development.

Africa's Future, Africa's Challenge

This book presents a balanced collection of articles written by African and non-African authors ranging from field practitioners to academicians, and compiles the latest data and viewpoints on the state of Sub-Saharan Africa's children.

Risk Analysis for Islamic Banks

This title provides a comprehensive overview of topics related to the assessment, analysis, and management of various types of risks in the field of Islamic ban

The Road Not Traveled

The Road Not Traveled explores why the past investments in education in the Middle East and North Africa region have not generated maximum returns and proposes a new approach to education reform focusing on incentives and public accountability.

UK online banking goes mainstream

More than a quarter (26 per cent) of UK bank account holders use online services but with little impact on the use of of branch-based services, says analyst Gartner.
And the use of internet banking is linked to higher use of other channels such as cash machines and telephone banking, according to the report.
"Adoption of e-banking is now taking place within the mainstream of consumers, among people who use new channels and services if, and only if, they see intrinsic value from the new technology," said Gartner financial services research director David Schehr.
"Online banking has clearly made this transition in consumer minds," he said.
Banks need to use the internet to improve customer communication and differentiate themselves from competitors, said Schehr.
"They should leverage this channel to serve their clients and strengthen relationships."