|Approval Date||29 Jun 2021|
|Signature Date||20 Sep 2021|
|Planned Completion Date||31 Dec 2024|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
Central African Financial Sector Deepening Support Project (PASFIC) is an institutional support for the implementation of ten (10) priority reforms. This project aimed at strengthening the financial sector in the CEMAC and supporting the key reforms of Pillar 2 "Monetary Policy and Financial System" of the PREF CEMAC as well as the BEAC's strategic plan. It will improve the performance of the unified financial markets, particularly in terms of resource mobilization and raising the number of listings on the stock market. PASFIC will also boost banking transparency and financial inclusion to consolidate the performance of the regional financial system and ensure greater participation by more stakeholders, especially women entrepreneurs. The Project will support technical capacity building of regional financial institutions, private sector experts and government officials. It has three (3) components: (i) support to the financial market; (ii) support for banking transparency and financial inclusion and (iii) capacity building and project management.
The project's overall objective is to promote the development of CEMAC's financial system for improved financing of the economies.
The direct beneficiaries are BEAC, BVMAC (unified stock exchange), the sole regulator COSUMAF, the single central depository, and economic agents. Other indirect beneficiaries are the CEMAC financial sector, the private sector, all community households, local companies including those run by women, local subsidiaries of multinationals, regional holding companies, leading companies in their sectors at national level, high growth SMEs, etc.
African Development Fund
SECRETARIAT EXECUTIF DE LA CEMAC
|Last Update||01 Dec 2021|
|Name||MBENG MEZUI Cedrique Achille|