4.2 Necessary Inputs by Recipient Country Two major elements for this project which will be required for the Myanmar side to pursue are: (i) development of rules and regulations to enable the service provision of CBM-NET, and (ii) setting up of appropriate environment for installation of the ICT systems. In particular, it is as descripted in 3.3. 4.3 Important Assumptions Externalities that may seriously affect the implementation of the project lies mostly with the situation and policies of the stakeholders such as the MOF, commercial banks, state owned banks and telecommunication service providers. There is also a competition factor which should be taken into account.  The necessary human resource for O&M will not assigned by CBM;  Myanmar government change the basic policy related to modernization of financial sector;  Core Banking System of FIs not implemented as expected;  Necessary O&M cost will not be prepared by CBM; The project should be implemented under assumptions that the above will not occur. Risks on whether such may occur should therefore be closely monitored 4.4 Project Evaluation 4.4.1 Relevance Following the first project of CBM, the number of bank accounts grew by more than 10% per year along with economic development in Myanmar, and financial transactions are rapidly increasing and becoming more diversified, as seen in the introduction to mobile banking services, etc. Against this backdrop, the need for enhanced functionality of CBM-NET is increasing, such as improvement of 117