催化转型：金融部门的韧性和创新驱动的增长（英）2026

SCFI Trust Fund Phase 3 Impact Assessment Report Catalyzing Transformation:Financial Sector Resilience andInnovation-Led Growth SEPTEMBER 9, 2025 Finance, Competitiveness and Investment Global Department © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington DC 20433Telephone: 202-473-1000Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, andconclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Direc-tors, or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and doesnot assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to theuse of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denom-inations, and other information shown on any map in this work do not imply any judgment on the part of The WorldBank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges andimmunities of The World Bank, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge,this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this workis given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, TheWorld Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. Contents Abbreviations3Acknowledgments5Foreword6Executive Summary7 SECTION 1.OVERVIEW: CRISES IN THE EAST ASIA AND PACIFIC REGION11 The SCFI Trust Fund13Republic of Korea: A High-Income Country and Regional Aspiration17 SECTION 3.IMPACTS: REFORMS, LEVERAGE, AND CAPACITY BUILDING18 Impact: World Bank Leverage23Impact: World Bank Technical Assistance, Policy Dialogue, and Implementation24Impact: Capacity Building26Impact: Korean Partnerships Leveraged26 SECTION 4.IN-DEPTH LOOK AT THE SPOTLIGHT COUNTRIES29 Spotlight: Cambodia29Spotlight: Indonesia33Spotlight: The Philippines38 SECTION 5.STORIES FROM THE REST OF EAST ASIA AND PACIFIC Lao People’s Democratic Republic45Mongolia47Pacific Islands49Viet Nam53 SECTION 6.LESSONS LEARNED AND RECOMMENDATIONS57 Leverage Korean development experience57Enhance coordination among client country beneficiaries59Foster broad stakeholder dialogue and engagement59Strengthen capacity-building efforts60Invest in longer-term impact of key reforms60 Appendix A.Results Framework of SCFI Trust Fund Phase 361 Appendix B.SCFI TF Phase 3 Financials62 BOXES Box 1. Pacific Island Countries: First-Time SCFI Grant Recipients25Box 2. Samoa Investment Promotion Policy (IPP)52 FIGURES Figure 1. SCFI Trust Fund: Phase 3 Impact Assessment at a Glance8Figure 2. SCFI 3.0 Framework16Figure 3. Cambodia’s Multitiered Legal and Regulatory System32Figure 4. Elements of Prakas on Sustainability Disclosures in Comparison with International Standards33Figure 5. Summary of Lessons Learned and Recommendations58 TABLES Table 1. Reforms Supported Through SCFI Grant Activities19Table 2. SCFI Contribution to World Bank Lending Operations23Table 3. Select Korean Partnerships Leveraged27 Abbreviations Acknowledgments The Seoul Center for Finance and Innovation (SCFI) sincerely thanks the Ministry of Economy and Finance(MOEF) of Korea for its ongoing, catalytic support in enhancing financial sector stability and resilience inemerging economies across the East Asia and Pacific region, while also paving the way for stronger privatesector–led growth and innovation. The SCFI also thanks the task teams in Cambodia, Indonesia, the LaoPeople’s Democratic Republic, Mongolia, the Pacific Islands, the Philippines, Viet Nam, and the DisruptiveTechnologies for Development (DT4D) Secretariat, alongside our esteemed Korean donor and partners. The cooperation, resilience, and dedication exhibited by the task teams in implementing activities in a timeof a multitude of complex, over-lapping global and local crises must be commended. In this recent periodof implementation, the SCFI saw an increase in partnership activities and publications, with an emphasis onsustainability and innovation. This SCFI Impact Assessment Report 2025 for Phase 3 was led by Stuart Yikona(Program Manager) with Mohini Bhatia (Senior Consultant), Soohyang Lee (Financial Sector Specialist), Cris-tian Quijada Torres (Senior Private Sector Specialist), Kibum Kim (Private Sector Specialist), Seungeun Jeong(Consultant), and Eunsol Lee (Consultant) of Finance, Competitivene