Multinational - CEMAC: Central African Financial Sector Deepening Support Project (PASFIC) (AFDB-P-Z1-H00-029)

Countries
  • Central African Republic
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
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
Jun 29, 2021
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.
Borrower
Regional
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 3.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Aug 21, 2021


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Project Description

According to the bank website, "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."

Investment Description

Contact Information

MBENG MEZUI Cedrique Achille 
c.mbengmezui@afdb.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process.

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/