Publication: Great Expectations but Disappointing Results : What Went Wrong with the Cambodia Institute of Banking?
Date
2007-11
ISSN
Published
2007-11
Author(s)
Biallas, Margarete O.
Abstract
There were great expectations of success
in January 2004 when International Finance Corporations
(IFC's) multidonor advisory initiative, the Mekong
Private Sector Development Facility (MPDF) launched the
Cambodia Institute of Banking (CIB), Cambodia's first
training center for the finance industry. There was obvious
need, the Association of Banks in Cambodia was backing CIB
with members' own money, and IFC advisory staff was
well qualified to help launch and advice CIB after three
years of advising a similar, successful institution in
Vietnam. So, with many good reasons for success, why was CIB
a disappointment, and what lessons can be learned from this?
Establishing business development service providers such as
CIB is a good use of donor money, because many more
enterprises can be served. But the approach is based on
several important assumptions that should not be
underestimated. The market must be large enough; financing
must be sufficient; and the sponsor must be committed and
provide enough funding. Also, Board members must have the
right skills and enough time, and be willing to serve for
several years. And in a frontier, post conflict country like
Cambodia, where qualified staff is in short supply, the time
frame for spin-off must be much longer.
Citation
“Biallas, Margarete O.. 2007. Great Expectations but Disappointing Results : What Went Wrong with the Cambodia Institute of Banking?. IFC Smart Lessons Brief. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/47054dc6-e5e3-5a3d-9c43-cbde9715d8fa License: CC BY-NC-ND 3.0 IGO.”
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