Immediately after the World Bank charged the government of not being serious about financial reforms, the IMF has begun evaluation of Nepal's commitment to the Poverty Reduction Grant Facility (PRGF). Based on the report, the fund will decide whether or not to continue the program. An IMF team led by Asia Director Mulayan Indrawati is in town and has already begun the evaluation process. Three years after it began lobbying, Nepal was finally allowed to enter the PRGF program on agreeing to the fund's conditions that Nepal would have to attend two different targets of monetary index and institutional reform within six months. The monetary index is largely symbolic, and therefore does not matter so much. But institutional reform is mandatory. "There has been no progress in institutional reform," said a Nepal Rastra Bank official. Since the World Bank has found out that the primary conditions of institutional reform have not been met, it has withheld its second phase of the reform programs. IMF's institutional reform conditions include the government's cooperation to contract management at Nepal Bank Limited and the Rastriya Banijya Bank, prohibiting the banks' black-listed debtors from getting loans.