Project Description
The Advisory Services project provides risk management capacity building
for financial institutions in emerging markets, helping them become more
robust and enabling them to build internal risk processes and capacity to
perform their vital role as financial intermediaries in the local
economies. The project, which will continue beyond the current financial
crisis, generally relies on private sector consultants for implementation,
with IFC oversight. It helps clients identify gaps and weaknesses,
proposes solutions, and assists with prioritizing. The immediate objective
is to lessen the impact of the current financial crisis on emerging
markets, by strengthening the risk management capabilities of local
institutions and mitigating any systemic crisis impact on local economies.
The long-term objective is for the financial institutions to emerge from
the crisis with enhanced risk management frameworks and capabilities to
protect against future crises.