| Financier | Commitments |
|---|---|
| IDA Grant | 40.00 |
Sierra Leone Second Financial Inclusion Project
Abstract*
The objective of the project is to increase the financial inclusion and resilience of individuals and micro, small and medium sized enterprises (MSMEs) and provide support to respond to eligible emergency events. For the purposes of this project, this would be achieved by expanding the adoption and usage of transactional accounts, digital financial services, and access to finance for individuals and MSMEs using services provided by sound financial... Show More
Development Objective
The objective of the project is to promote a more inclusive and resilient financial sector for individuals and micro, small and medium sized enterprises (MSMEs).
Key Details
Project Details
P177947
Active
Sarmad Shaikh , Neema Mwingu
Republic of Sierra Leone
June 3, 2022
(as of board presentation)
June 2, 2023
October 27, 2023
US$ 30.00 million
Bank of Sierra Leone
2023
US$ 40.00 million
N/A
February 5, 2024
September 25, 2028
Yes
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 40.00 |
| IBRD + IDA Commitment | 40.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 30.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Jun 2, 2023 | IDA-E2050 | Loan Commitment | 40,000,000.00 |
| Feb 22, 2024 | IDA-E2050 | Loan Disb | 3,494,171.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Project Management | Satisfactory | 2024-10-11 |
| Progress towards achievement of PDO | Satisfactory | 2024-10-11 |
| Financial Management | Satisfactory | 2024-10-11 |
| Monitoring and Evaluation | Satisfactory | 2024-10-11 |
| Overall Implementation Progress (IP) | Satisfactory | 2024-10-11 |
| Procurement | Satisfactory | 2024-10-11 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Adults with transaction accounts at a formal financial institution or mobile money provider (gender disaggregated) Value 29.00 29.00 45.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Of which women Value 25.00 25.00 30.00 Date Comment Adults that made or received a digital payment in the last year (gender disaggregated) Value 27.00 27.00 40.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Of which women Value 23.00 23.00 25.00 Date Comment Financing disbursed through Line of credit to MSME Value 0.00 0.00 12000000.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Of which women Value 0.00 0.00 10.00 Date Comment PFIs with innovative loan products for women, other under-served groups, and climate adaptation and mitigation/resilience Value 0.00 0.00 4.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Banking/Mobile Money Agents Value 14099.00 14000.00 20000.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment MSMEs receiving loans from PFIs through the LOC (gender disaggregated) Value 0.00 0.00 600.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Feedback received from the beneficiary satisfaction survey and used and integrated into project interventions Value 0.00 0.00 80.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Laws/regulations/guidelines adopted Value 0.00 0.00 4.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Adults covered by the credit registry Value 2.10 2.10 8.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment New systems launched (RTGS/ACH/Shared infrastructure for MFIs) Value 0.00 0.00 3.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment MSME loans from Participating Financial Intermediaries (PFIs) through the Line of Credit (USD) Value 0.00 0.00 600.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Adults reached through financial literacy interventions (gender disaggregated) Value 0.00 0.00 5000.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment Proportion of loans from PFIs to women-owned MSMEs Value 0.00 0.00 40.00 Date Comment New systems launched (MFI supervision tool, credit reference) Value 0.00 0.00 2.00 Date June 2, 2023 August 30, 2023 May 31, 2028 Comment NPL ratio of MSME Line of Credit portfolio Value 0 0 <10% Date June 2, 2023 August 30, 2023 May 31, 2028 Comment