|Approval Date||21 Sep 2016|
|Signature Date||20 Dec 2016|
|Planned Completion Date||31 Oct 2022|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
The project will support payment system integration, financial inclusion, trade integration and inclusive growth processes in the West African Economic and Monetary Union (WAEMU). This is a project to invest in the infrastructure needed to extend regional payment systems (including a capacity building component). It comprises two main components which do not require the revision of the MFI regulations in force, namely: (i) Upgrading Information and Management Systems and Building MFI Capacity; and (ii) Improving Indirect Access by MFIs to WAEMU Payment Systems and the Provision and Popularization of MFI Services and Products.
The project seeks to contribute to increasing access to financial services by the underprivileged segments of the population in WAEMU (women, youths, rural dwellers, MSMEs, etc.) by establishing mechanisms to facilitate access by MFIs or DFS’ to WAEMU payment systems.
The main project beneficiaries are: (i) the most disadvantaged segments of the population (rural dwellers, women, youths and micro-, small- and medium-sized enterprises) who will benefit from a wide and diversified range of regional financial products and services at low cost, and improved living conditions; (ii) MFIs which will benefit from access to payment and clearing systems; and (iii) WAEMU economies which will be more integrated (through improved migrant remittances, regional financial flows and formal intra-regional trade).
African Development Fund
Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO)
|Last Update||22 Nov 2020|
|Name||AKA Kouassi Bruno|