Multinational - Macroeconomic Stability and Financial Integration Project in Southern Africa Development Community


Project Summary

Approval Date 18 Oct 2021
Planned Completion Date 31 Dec 2025
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15124
Environmental Category 3
Commitment U.A 5,000,000
Status Implementation

Project General Description

The Macroeconomic Convergence and Financial Integration project is a regional initiative designed to enhance SADC’s capability to implement the macroeconomic convergence programme and integrate the stock exchanges, which ultimately will contribute to resource mobilization for regional projects and programmes. The proposed operation complements other Bank-financed multinational ISPs aimed at enhancing convergence of standards and reforms, strengthening economic governance and Africa’s public finance management and domestic resource mobilization efforts for improved service delivery. in Africa e.g., the APRM Institutional Support Project, the Regional Institutional Support Project on Public Financial Governance, which supports the Collaborative African Budget Reform Initiative (CABRI) and the African Tax Administrators Forum (ATAF). It will also complement other Bank-funded programmes at national level which are delivered through budget support and institutional support projects. Strengthening the link between interventions at national and regional levels will help to give impetus to SADC’s macroeconomic convergence. The project is designed as a four-year programme and will be financed from the ADF Grant Resources. The project budget net of taxes and duties is UA 5,500,000. The proposed operation has three mutually reinforcing components: (a) strengthening macroeconomic convergence, (b) improving financial market integration and (c) project management and co-ordination.

Project Objectives

The overall objective of this operation is to assist SADC in enhancing its financial integration and monetary cooperation. The specific objective of the project is two pronged. First, it is to enhance macroeconomic stability and convergence of SADC region, and second support the development of integrated financial markets in SADC to facilitate the most efficient allocation of savings and investment.

Beneficiaries

The project is targeted at 9 ADF countries in the SADC region, which include DR Congo, Comoros, Lesotho, Madagascar, Malawi, Mozambique, Tanzania, Zambia, and Zimbabwe. However, the outputs of the project will be available to all member countries of the SADC region for use. As an integration project, the involvement of the other countries will add value to the components relating to macroeconomic convergence and integration of stock exchanges and harmonisation of listing requirements.

Participating Organization

Funding
African Development Fund

Information

IATI identifier 46002-P-Z1-KF0-067
Last Update 29 Nov 2022

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Contact Details

Name BANDA Lufeyo
Email l.banda@afdb.org

Geographic Location

Country Multinational
Coordinates Location Name
-25.9655 32.5832 Maputo
-15.4067 28.2871 Lusaka
-11.7022 43.2551 Moroni
-6.82349 39.26951 Dar es Salaam
-18.75 46.75 Antananarivo Province
-29.58333 27.83333 Maseru
-4.375 15.97 Kinshasa City
-17.82772 31.05337 Harare
-13.9669 33.7872 Lilongwe