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Funding for bank reform

THE Asian Development Bank (ADB), Japan and Luxembourg will together offer $1.25 million in technical assistance to the government to initiate banking-sector reform, the ADB said in a statement Friday. The programme – which targets 13 areas for improvement, including oversight and the sector’s regulatory framework – will also see the government provide $150,000 in office space and staff support, it added. The International Monetary Fund, among other international finance bodies, has regularly called on the government to tighten supervision within the banking system.

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