Multinational - Project to Support the Central African Unified Financial Market


Project Summary

Approval Date 27 Dec 2020
Planned Completion Date 31 Dec 2023
Last Disbursement Planned Date 31 Dec 2022
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 690,591.35
Status Approved

Project General Description

The proposed operation concerns a grant of 976,000 euros from the African Development Bank (AfDB) from the resources of the Technical Assistance Fund for Middle Income Countries (TAF-MIC) to finance the Support Project for the Start-up of the Unified Central African Financial Market. This support is in line with the Bank's Strategic Framework for Regional Integration for the period 2018-2025, particularly in its Pillar III on financial integration. The objective of this pillar is to help Financial Institutions to become regional players and develop a regional financial system aimed at mobilizing more domestic savings to meet the needs of the productive sector. It is also aligned with the Regional Integration Strategy Paper for Central Africa (DSIR-AC) for the period 2019-2025. The Programme is structured around three components, namely, the operationalisation of the unified financial market, the mobilisation of domestic savings and the strengthening of human capital on stock market instruments. This intervention will be complemented by those of the other technical and financial Partners, in particular the International Monetary Fund and the World Bank.

Project Objectives

The overall objective of the AMFUAC project is to support strategies for accessing domestic resources to meet the financing needs of CEMAC States in their process of structural transformation and diversification of their economies. The aim is to support the effective launch of the unified financial market of CEMAC in order to increase its contribution to the financing of growth in the CEMAC zone. The project will increase BVMAC's market capitalisation, with the arrival of new shares of listed companies.

Beneficiaries

The direct beneficiaries are the Bank of Central African States (BEAC) and the member countries of the Economic and Monetary Community of Central Africa (CEMAC).

Participating Organization

Funding
Fund for African Private Sector Assistance
Implementing
BANQUE DES ETATS DE L#AFRIQUE CENTRALE

Information

IATI identifier 46002-P-Z1-H00-070
Last Update 21 Sep 2021

Export

Contact Details

Email fapa@afdb.org

Geographic Location

Country Multinational