FIRST's mission is to support growth and poverty reduction in low- and middle-income countries through the promotion of robust and diverse financial sectors.
FIRST’s specific objectives are to:
- Fund technical assistance in the areas of financial sector regulation, supervision and development in response to country demands, provide support to countries to strengthen their financial systems or implement standards and codes in advance of Financial Sector Assessment Programs (FSAPs) or Reports on Standards and Codes (ROSCs), and facilitate systematic follow-up of related recommendations.
- Assist recipients in preparing prioritized action plans addressing financial sector development and the sequencing of reforms (for example as a follow-up to FSAPs), and advise clients, especially in low income countries, on the implementation of financial sector development programs.
- Promote coordination in the delivery of financial sector technical assistance and capacity building, drawing particularly on private sector expertise.
- Support research on and the dissemination of best practices and useful tools related to financial sector reform and development in low- and middle-income countries.
- Work with international standard-setting bodies and other relevant partners to broaden the base of providers supporting countries’ efforts to implement standards and codes in accordance with FSAP and ROSC recommendations and strengthen their financial systems.
- Support capacity building and local knowledge exchange.
The FIRST Charter is the constitutive document of FIRST which sets out FIRST's objectives, policies and procedures.