The Financial Sector Reform and Strengthening (FIRST) Initiative is a multi-donor grant facility providing technical assistance (TA) to promote financial sector strengthening.

FIRST was launched in 2002 by the Canadian International Development Agency (CIDA), the Department for International Development for the United Kingdom (DFID), the International Monetary Fund (IMF), the Ministry of Foreign Affairs of The Netherlands, the State Secretariat for Economic Affairs of Switzerland (SECO), the Swedish

International Development Cooperation Agency (SIDA), and the World Bank.

In 2009 FIRST welcomed new donors: Germany’s Federal Ministry of Economic Cooperation and Development (BMZ) and the Ministry of Finance of Luxembourg.

The World Bank manages the FIRST Initiative on behalf of the donors. FIRST has been recently extended to 2012 with funding of $110 million in total, based on its success in the first four years of its operations.

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