Catalyzing Transformation : Financial Sector Resilience and Innovation-Led Growth - SCFI Trust Fund Phase 3 Impact Assessment Report

Overview & Synopsis

The Seoul Center for Finance and Innovation (SCFI) Trust Fund, established in collaboration with the Ministry of Economy and Finance of the Republic of Korea, aims to support financial sector stability, resilience, and private sector–led growth and innovation in the East Asia and Pacific region. This report evaluates the effectiveness and outcomes of the SCFI Trust Fund Phase 3, which was implemented from July 2020 to December 2023. US$10.9 million was allocated to support financial and private sector development programs in seven countries in the East Asia and Pacific region: Cambodia, Indonesia, Lao People’s Democratic Republic, Mongolia, the Pacific Islands (Fiji, Kiribati, and Samoa), the Philippines, and Viet Nam. The SCFI Trust Fund, through the generous support of the Ministry of Economy and Finance of Korea, offered technical assistance, advisory services, and capacity building with Korean partners in thematic areas that the SCFI covers. The report spotlights the achievements in Cambodia, Indonesia, and the Philippines; the report also highlights the other beneficiary countries: Lao PDR, Mongolia, Pacific Island Countries (PICs), and Viet Nam. The three spotlight countries were selected by the SCFI team because they were some of the largest recipients of the SCFI Trust Funds under review and because they highlight a good mix of the World Bank Group’s work on the advisory and lending operation sides.