Financial Inclusion and Stability Project (WB-P166107)

Countries
  • Mozambique
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
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
Dec 4, 2018
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
Government of Mozambique
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
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.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 16, 2019

Disclosed by Bank May 18, 2018


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Project Description

According to bank documents, the project objective is to increase financial inclusion for underserved groups and MSMEs while strengthening the overall financial safety net.

The proposed Project seeks to promote measures to increase financial inclusion by providing access to electronic transaction accounts to underserved segments of the population and increase the capacity of the deposit insurance scheme to protect individual depositors and support overall financial stability. Broadly, this will be implemented through (i) technical and advisory measures to increase the usage of transaction accounts by facilitating the digitization of government payments; (ii) development of a program to improve the ecosystem for electronic transactions, particularly in rural areas, and the enabling environment for its adoption, including investments in financial literacy and awareness; (iii) establishment of a new collateral registry to facilitate access to finance for MSMEs; (iv) provision of capital, TA, and
institution support to improve the operational capacity of the deposit insurance scheme; and (v) technical and advisory support to improve surveillance of financial sector risks. The project has three components with a total investment of USD 40 million.

Investment Description
  • World Bank (WB)
Contact Information

World Bank:
Julian Casal
Senior Financial Sector Economist

Borrower:
Ministry of Economy and Finance
Adriano Ubisse
National Treasury Director
adriano.ubisse@mef.gov.mz 

Implementing Agencies:
Ministry of Economy and Finance
Ester dos Santos Jose
Deputy National Director for Public Debt
ester.jose@mef.gov.mz

Deposit Guarantee Fund
Ana Amelia Morais
President
ana.fgd@bancomoc.mz

Bank of Mozambique
Alberto Bila
Managing Director
alberto.bila@bancomoc.mz

Instituto de Supervisao de Seguros de Mocambique
Maria Otilia Santos
President
otilia.santos@issm.gov.mz 

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.