|Approval Date||03 Feb 2017|
|Signature Date||18 Apr 2017|
|Planned Completion Date||31 Dec 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
The Payment System and Financial Inclusion Infrastructure Project (PISPIF) aims to make the financial sector more competitive and expand financial inclusion, through the internationalization of the payment system, securing loans and improving the strategic framework and electronic payment instruments in Sao Tome and Principe. The country will benefit from a fully interoperable card system, linked to international networks to enable the use of Visa and MasterCard. This project will also support institutional capacity building, supporting the restructuring and strengthening of the Central Bank; a service dedicated to the control and supervision of the payment system will also be created, with the support of the "First" initiative of the World Bank. The total cost is estimated at 64.7 billion Sao Tome Dobru, equivalent to US $ 2.87 million.
The objective of the project is to promote financial sector competitiveness and financial inclusion in Sao Tome and Principe. The specific objectives are the internationalization of the payment system, the improvement of the strategic framework and electronic payment instruments, and the securing of loans.
The project targets the entire population of Sao Tome and Principe, with the prospect of greater financial inclusion under the project. The Payment System Management Authority (SPAUT) will receive similar assistance after a diagnostic study of its infrastructure, software used and management.
African Development Fund
BANQUE NATIONALE SAO TOME ET PRINCIPE
|Last Update||07 Aug 2020|
|Name||NDIAYE Mohamed Rachid|
|Country||Sao Tome and Principe|