ENP Newswire -
Release date- 16072014 -
The first in a series aimed at promoting financial sector development, this DPO financed through an IDA* credit (
'This operation supports the government's efforts in implementing the Government of
This operation will focus on three pillars: financial stability; financial inclusion; and long term financial markets. It will reinforce financial stability by supporting improvements in banks' risk management and asset soundness as well as safety net and crisis management resiliency frameworks. The operation will also support reforms to promote financial inclusion focusing on the credit reporting system, branchless banking and mobile banking, consumer protection, payment systems and the insolvency framework. Additionally, it will help promote long term financial markets through support to reforms focusing on the development of debt and capital markets.
'These reforms will help increase access to financial services for both households and businesses, focusing on small and medium enterprises and rural outreach,' said Mazen Bouri, the World Bank Task Team Leader for the project. 'By promoting financial inclusion the DPO contributes to broad based private sector development, which is essential for job creation and poverty reduction.'
This DPO is in line with the
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