Electronic and Digital Financial Services (IFC-601347)

Countries
  • Tajikistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 25, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 2.97 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 24, 2017

Disclosed by Bank Apr 24, 2017


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Project Description
The Electronic and Digital Financial Services Project in Azerbaijan and Central Asia (EDFS in ACA) is currently being implemented by Finance & Markets Global Practice of the World Bank Group (International Finance Corporation arm) in Azerbaijan, Kyrgyzstan and Tajikistan. The major objective of this Project is to increase access to finance, facilitate the spread of electronic and digital financial services in far-flung rural areas, as well as expand financial inclusion of the population that does not fully participate in the formal financial system. EDFS in ACA also focuses on channeling remittance flows into the official financial system, which is very relevant for Project countries where they remain a significant source of income for vulnerable households. The EDFS in ACA Project aims to accomplish the following targets: o Increase number of registered users in in project countries o Increase volume of non-cash transactions and expand agents network for electronic and digital financial services operations. The Project includes 3 major components: A) Improving the regulatory environment through the development of the payment infrastructure by establishing a public-private dialogue B) Facilitating a joint payment platform through industry-wide consensus and stakeholder awareness-raising C) Identifying and engaging with potential partners who will develop and deploy mobile money products
People Affected By This Project
This project will facilitate expansion of digital financial services to remote areas of the Project countries, where most of the unbanked and under-banked population lives, with the lowest operational cost. The availability of/access to financial services is expected to help the poor better manage their finances which consequently will help them to improve their lives.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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