The Financial Sector Deepening Program was formulated to address key constraints to deepening of the finance sector. These included the development of a money market, actions to improve the depth and liquidity of the capital market, and efforts to strengthen institutions and capacity of the nonbank finance sector. The program utilized a programmatic approach with two subprograms to focus on the development of a money market and deepening of the capital market, both basic building blocks of finance sector development.
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