Strengthening the Capacity of Regional Financial Institutions in the CEMAC Region

Abstract*

The Strengthening the Capacity of Regional Financial Institutions in the Central African Economic and Monetary Community (CEMAC) Region Project of Africa has the objective to strengthen the capacity of selected CEMAC regional financial institutions to implement their mandates in the areas of financial stability, inclusion and integrity. This project is comprised of four objectives. (1) Strengthening the capacity of Bank of Central African States (BEAC)... Show More

Development Objective

The Project Development Objective (PDO) is to strengthen the capacity of selected CEMAC regional financial institutions to implement their mandates in the areas of financial stability, inclusion and integrity.

Key Details

Project Details

Project ID
P161368
Status
Active
Team Leader
FNU Besong Joseph Neiville Agbor , Michael Corlett, Jean Lobet
Borrower 2
Banque des Etats de l'Afrique Centrale (BEAC)

Country
Western and Central Africa
Disclosure Date
September 19, 2017
Approval Date
(as of board presentation)
May 4, 2018
Effective Date
October 24, 2018

Total Project Cost 1
US$ 35.00 million
Implementing Agency
Groupe d' Action contre le Blanchiment d' Argent en Afrique Centrale (GABAC),Commission Bancaire de l'Afrique Centrale - COBAC
Region
Western and Central Africa
Fiscal Year 3
2018

Commitment Amount
US$ 35.00 million
Environmental Category
C
Last Update Date
March 11, 2024
Closing Date
June 30, 2025

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Infrastructure and Access61%
- FY17 - Credit Infrastructure14%
- FY17 - Financial inclusion32%
- FY17 - Payment & markets infrastructure31%
FY17 - Financial Stability60%
- FY17 - Financial Sector Integrity33%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring44%

FY17 - Public Sector Management

FY17 - Public Administration13%
- FY17 - Transparency, Accountability and Good Governance13%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Grant	10.00
IDA Credit	25.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	35.00
IBRD + IDA Commitment	35.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	35.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
May 4, 2018	IDA-62290	Loan Commitment	25,000,000.00
May 4, 2018	IDA-D3030	Loan Commitment	10,000,000.00
Jan 28, 2022	IDA-62290	Loan Disb	4,092,943.20
Dec 31, 2019	IDA-62290	Loan Disb	681,895.70
Apr 30, 2020	IDA-62290	Loan Disb	1,273,583.40
Sep 15, 2020	IDA-62290	Int Charges	888.36
Sep 15, 2020	IDA-62290	Int Charges	888.36
Sep 15, 2020	IDA-62290	Int Charges	17,092.10
Sep 15, 2020	IDA-62290	Int Charges	17,092.10
Mar 15, 2021	IDA-62290	Int Charges	17,964.26
Mar 15, 2021	IDA-62290	Int Charges	17,964.26
Mar 15, 2021	IDA-62290	Int Charges	375.70
Mar 15, 2021	IDA-62290	Int Charges	375.70
Jun 22, 2021	IDA-62290	Loan Disb	1,819,836.20
Sep 15, 2021	IDA-62290	Int Charges	21,592.62
Mar 26, 2024	IDA-D3030	Loan Disb	1,240,489.60
Jun 11, 2019	IDA-62290	Loan Disb	192,072.56
Feb 26, 2019	IDA-62290	Loan Disb	1,665,799.00
Sep 23, 2019	IDA-62290	Int Charges	646.54
Sep 23, 2019	IDA-62290	Int Charges	646.54
Sep 23, 2019	IDA-62290	Int Charges	6,397.33
Sep 23, 2019	IDA-62290	Int Charges	6,397.33
Feb 5, 2020	IDA-62290	Loan Disb	952,320.60
Mar 19, 2020	IDA-62290	Int Charges	97.66
Mar 19, 2020	IDA-62290	Int Charges	97.66
Mar 19, 2020	IDA-62290	Int Charges	7,707.38
Mar 19, 2020	IDA-62290	Int Charges	7,707.38
Jan 28, 2022	IDA-D3030	Loan Disb	1,721,170.40
Aug 24, 2022	IDA-D3030	Loan Disb	1,530,221.90
Jan 31, 2022	IDA-D3030	Loan Disb	-1,235,358.40
Jan 31, 2022	IDA-D3030	Loan Disb	1,235,358.40
Jun 22, 2021	IDA-D3030	Loan Disb	832,642.40
Apr 30, 2020	IDA-D3030	Loan Disb	779,459.06
Dec 31, 2019	IDA-D3030	Loan Disb	1,022,843.50
Feb 25, 2019	IDA-D3030	Loan Disb	1,664,641.60
Jun 11, 2019	IDA-D3030	Loan Disb	77,717.22
Aug 28, 2023	IDA-62290	Loan Disb	1,661,129.60
Dec 22, 2023	IDA-62290	Loan Disb	250,000.02
Mar 19, 2024	IDA-62290	Int Charges	56,234.99
Mar 19, 2024	IDA-62290	Int Charges	56,234.99
Mar 19, 2024	IDA-62290	Int Charges	1,768.09
Mar 19, 2024	IDA-62290	Int Charges	1,768.09
Mar 26, 2024	IDA-62290	Loan Disb	1,653,986.10
Sep 15, 2022	IDA-62290	Int Charges	4,187.96
Sep 15, 2022	IDA-62290	Int Charges	4,187.96
Sep 15, 2022	IDA-62290	Int Charges	37,372.58
Sep 15, 2022	IDA-62290	Int Charges	37,372.58
Sep 18, 2023	IDA-62290	Int Charges	48,279.97
Sep 18, 2023	IDA-62290	Int Charges	48,279.97
Sep 18, 2023	IDA-62290	Int Charges	228.57
Sep 18, 2023	IDA-62290	Int Charges	228.57
Mar 15, 2023	IDA-62290	Int Charges	49,680.65
Mar 15, 2023	IDA-62290	Int Charges	49,680.65
Mar 15, 2023	IDA-62290	Int Charges	1,582.05
Mar 15, 2023	IDA-62290	Int Charges	1,582.05
Sep 15, 2021	IDA-62290	Int Charges	21,592.62
Sep 15, 2021	IDA-62290	Int Charges	142.97
Sep 15, 2021	IDA-62290	Int Charges	142.97
Mar 15, 2022	IDA-62290	Int Charges	23,959.83
Mar 15, 2022	IDA-62290	Int Charges	23,959.83
Mar 15, 2022	IDA-62290	Int Charges	4.06
Mar 15, 2022	IDA-62290	Int Charges	4.06
Aug 24, 2022	IDA-62290	Loan Disb	2,295,332.80
Jan 31, 2022	IDA-62290	Loan Disb	680,472.00
Jan 31, 2022	IDA-62290	Loan Disb	-680,472.00
Aug 1, 2022	IDA-62290	Loan Disb	750,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Moderately Satisfactory	2024-10-22
Financial Management	Moderately Unsatisfactory	2024-10-22
Progress towards achievement of PDO	Satisfactory	2024-10-22
Monitoring and Evaluation	Satisfactory	2024-10-22
Procurement	Satisfactory	2024-10-22
Overall Implementation Progress (IP)	Moderately Satisfactory	2024-10-22

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increased capacity of BEAC to produce reliable financial, monetary and economic statistics on a monthly basis.	Value	No data published	Data available for 6 countries	Data updated and published every month
	Date	April 2, 2018	March 11, 2024	July 3, 2023
	Comment

Increased capacity of BEAC to manage digital and instant payments through the implementation of a new automatic clearing house (ACH) system.	Value	No	No	Yes
	Date	December 15, 2022	March 11, 2024	June 28, 2024
	Comment

Increased capacity of COBAC to supervise banks and microfinance institutions through the implementation of a centralized reporting system.	Value	SPECTRA system not operational	All banking sector data uploaded into SPECTRA syst	SPECTRA system operational
	Date	December 15, 2022	March 11, 2024	December 1, 2023
	Comment

Increased capacity of GABAC to comply with the FATF membership requirements. Value Yes Yes Yes
Date July 2, 2018 March 11, 2024 July 3, 2023
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

The Composite Index of Economic Activity is computed based on data from 6 countries and published on a quarterly basis.	Value	No data published	CIEA is compiled based on data from 6 countries	CIEA is compiled with data from 6 countries and pu
	Date	July 2, 2018	March 11, 2024	June 28, 2024
	Comment

Updated regulations for issuing and processing emoney by year 2 Value No Yes Yes
Date July 2, 2018 March 11, 2024 July 3, 2023
Comment
Number of staff trained to carry out mutual evaluations by year 2 Value 0.00 20.00 15.00
Date July 2, 2018 March 11, 2024 July 3, 2023
Comment
Adopt credit bureau law by year 2 Value No Yes Yes
Date March 15, 2019 March 11, 2024 July 3, 2023
Comment
BEAC to prepare financial statements in compliance with IFRS standards by year 2 Value No Yes Yes
Date July 3, 2018 March 11, 2024 July 3, 2023
Comment
Regional financial inclusion task force created by year 2 Value No Yes Yes
Date July 2, 2018 March 11, 2024 July 3, 2023
Comment
Number of Mutual Evaluations carried out in CEMAC member countries using the revised FATF methodology Value 0.00 5.00 6.00
Date July 2, 2018 March 11, 2024 June 28, 2024
Comment
Private credit bureau operator selected by year 4 Value No Yes Yes
Date March 15, 2019 March 11, 2024 July 3, 2023
Comment
Implement BEAC internal audit automation system CAPBEAC Value CAPBEAC not operational CAPBEAC is operational CAPBEAC operational
Date July 2, 2018 March 11, 2024 June 28, 2024
Comment
Financial inclusion indicators produced and published by year 6 Value No No Yes
Date July 2, 2018 March 11, 2024 June 28, 2024
Comment
Number National Risk Assessments carried out in CEMAC member countries Value 0.00 6.00 6.00
Date July 2, 2018 March 11, 2024 June 28, 2024
Comment
Adoption of FOGADAC new regulatory framework Value Not adopted Regulation ready and submitted for approval Regulation adopted by regional authorities
Date July 2, 2018 March 11, 2024 June 30, 2023
Comment

Adoption of the regional financial inclusion strategy by BEAC	Value	Not adopted	Financial inclusion strategy formally adopted by B	Financial inclusion strategy formally adopted by B
	Date	July 2, 2018	March 11, 2024	June 1, 2023
	Comment

Develop and implement stress test methodologies and monitoring systems Value No Yes Yes
Date July 2, 2018 March 11, 2024 June 28, 2024
Comment
Operationalization of new centralized securities depository Value No No Yes
Date December 15, 2022 March 11, 2024 June 28, 2024
Comment
Number of COBAC staff trained on banking supervision Value 0.00 40.00 40.00
Date December 3, 2018 March 11, 2024 June 28, 2024
Comment
percentage of women among COBAC staff trained on banking supervision Value 0.00 100.00 0.00
Date
Comment

Number of staff trained to carry out mutual evaluations by year 2	Value	0.00	20.00	15.00
	Date	July 2, 2018	March 11, 2024	July 3, 2023
	Comment

Adopt credit bureau law by year 2	Value	No	Yes	Yes
	Date	March 15, 2019	March 11, 2024	July 3, 2023
	Comment

Implement BEAC internal audit automation system CAPBEAC	Value	CAPBEAC not operational	CAPBEAC is operational	CAPBEAC operational
	Date	July 2, 2018	March 11, 2024	June 28, 2024
	Comment

Strengthening the Capacity of Regional Financial Institutions in the CEMAC Region

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS