t, coordination between MOF & NBG on T-bills/open market operations; long term: independent debt man-agement office
Financial Sector Advisory Program, PRSC in High Case
USAID
FIRST
Lower T-bill yield
В· Develop legislation promoting the activities of investment funds in order to introduce best corporate management practice in enterprises and develop stock market
Ministry of Finance, National Commission of Securities
Help build legal environment for investment funds; provide information/advice /Td>
Establishment of legal environment for investment funds
Financial Sector Advi-sory Program
Regulation of investment funds in place; NCS has capacity to supervise those funds
В· Prepare and adopt bill "on Personification and Registration of Insurance Contributions to Social Insurance System "required for regularizing first (distributive) pillar of pension system and development of pensioners 'personified registration system
Ministry of Labor, Health and Social Protection
Support to Ministry of Labor, Health and Social Protection on legal reforms and their implementation
Law adopted successfully
Social Protec-tion Reform Project
Regularization of 1st pillar of pension system; better links between pensions and con-tri-bu-tions
В· For private pension funds, adopt statutory normative acts in accordance with the laws "on Non-Government Pension Funds" and "on Securities Market"
National Securities Commission, Ministry of Labor, Health and Social Pro-tection
Support to National Securities Commission and Ministry of Labor, Health and Social Protection on legal reforms and their implementation
Normative acts developed and adopted
Social Protec-tion Reform Project
Improved regulatory environment in the area of ​​private pensions
В· Prepare amendments to the Tax Code and investment rules of pension assets to promote the development of non-banking financial sector, including nongovernmental voluntary insurance system
Ministry of Finance, State Service of Insurance Supervision, National Commission of Securities
Support to relevant agencies on amendments to ta...
