| Project Detail |
Project Development Objective (PDO)
PDO Statement
To increase access to and usage of financial services for adults.
PDO Level Indicators
• Access to financial services:
o Number of transaction accounts per 1,000 adults
• Usage of financial services:
o Number of digital retail transactions per 1,000 adults
29. The project will achieve the PDO level indicators through investments and technical assistance (TA), which facilitate
access to the financial sector and its usage. The project will invest in financial infrastructure, financial literacy
support for basic BTAs, and digitalization of financial institutions and payment streams. The project will also support
improving financial stability and integrity to foster confidence in and thus demand and usage of the financial sector
through investments in supervisory IT to bolster risk-based supervision, enhancing BCC’s risk-based supervision
capacity through a resident advisor, and implementing recommendations from the National Risk Assessment (NRA)
and capacity building on the financial analysis of suspicious transactions.
B. Project Components
30. This project is designed to support financial sector development that is consistent with inclusive growth. The
project aims “To increase access to and usage of financial services for adults” through investments and support to
improve payment systems, access to financial services, and institutional capacity of the supervisor to promote
financial sector stability and integrity. Component 1 supports Increasing Access to and Usage of Financial Services
through Automating Interbank Transactions and Develop Digital Payment Interoperability, Facilitating Access and
Usage of DFS, and Enhancing Financial Stability and Integrity to Facilitate Usage of Financial Services. Moreover, to
make/receive digital payments, adults and businesses need accounts, thus the project will help finance both the
systems to make digital payments and physical obtainment of accounts. Component 2 will bolster project and
payment systems management.Component 2 will support project management and consultants to support project
implementation and Monitoring and Evaluation (M&E), along with support for the management of the payment
systems’ governance bodies. Moreover, it will finance: a project coordinator; procurement consultant; accounting,
audit, and environmental and social safeguard support; BCC capacity building in DFS; and M&E support. It will also
provide financing for capacity building for the National Payments Council (NPC). |
