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Bond Market Development in East Africa

May 9, 2014



Project Number : 600053 IFC Approval Date : 09/05/2013 Country : Eastern Africa Region Disclosure Date : 02/03/2014 Region : Sub-Saharan Africa Status : Active Business Line : Access To Finance Project Estimated End Date : 09/30/2015 Estimated Total Budget : $1,750,000.00 Last Updated Date : 05/08/2014 (Project budget includes all project-funded activities) Project Description : Bond Market Development in East Africa Securities markets greatly contribute to mobilizing domestic savings for investment in a variety of key sectors, such as housing, infrastructure and SMEs. These help create jobs and support economic development. However, the securities markets in East Africa are still at a nascent stage. Equity markets are small with few listed securities and low liquidity, while bond markets are generally characterized by limited benchmarks for pricing securities, low liquidity, rigid regulatory frameworks and inefficient infrastructure. The objective of this project is to support development of a regional capital market in East Africa, which will facilitate more financing for sectors where long-term local currency funds are necessary such as housing and infrastructure. The project will focus on supporting development of bond markets at regional and national levels, and work with securities regulators, issuers, individual exchanges, and regional institutions to improve: bond issuance processes; secondary market structure for trading bonds; government bond market development strategy; professional investor base and investment guidelines. Expected Development Impact : Efficient Securities Market Institutional Development - East African Community (ESMID EAC) is expected to contribute to increased volume of bond transactions, including cross-border transactions, in East Africa, as measured by the value of new bond issuance and value of cross-border securities transactions. It is also expected that the bond issuance framework will be improved and a more flexible trading structure adopted across East Africa.

Project completion date : 2015-09-30 12:00:00

Major organization : INTERNATIONAL FINANCE CORPORATION (IFC)

Address : 2121 Pennsylvania Avenue, NW Washington, DC 20433 United States Website : http://www1.ifc.org



Country :United States

Financier : International Finance Corporation (IFC),


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Source: TendersInfo (India)