| Financier | Commitments |
|---|---|
| IDA Credit | 12.00 |
Sierra Leone Financial Inclusion Project
Abstract*
The development objective of Financial Inclusion Project for Sierra Leone is to increase the interoperability of digital payments and access to financial services. This project has three compponents.1) The first component, Enhancing Interoperability of Digital Payments, will help enable the institutions provide new financial services and have more income generating services to be more viable entities. 2) The second component, Ensuring the Viability... Show More
Development Objective
The objective of the project is to increase the interoperability of digital payments and access to financial services.
Key Details
Project Details
P166601
Closed
Sarmad Shaikh
Republic of Sierra Leone
November 4, 2018
(as of board presentation)
January 17, 2019
May 28, 2019
US$ 12.00 million
Bank of Sierra Leone
2019
US$ 12.00 million
C
Not Applicable
June 30, 2025
Yes
BANK APPROVED
February 5, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 12.00 |
| IBRD + IDA Commitment | 12.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 12.00 |
Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Jan 17, 2024 | IDA-63670 | Int Charges | 1,225.00 |
| Jan 17, 2024 | IDA-63670 | Int Charges | 1,225.00 |
| Jan 17, 2024 | IDA-63670 | Int Charges | 53,853.68 |
| Jan 17, 2024 | IDA-63670 | Int Charges | 53,853.68 |
| Jun 7, 2024 | IDA-63670 | Loan Disb | 1,411,244.50 |
| Feb 20, 2024 | IDA-63670 | Loan Disb | 1,462,566.80 |
| Jul 22, 2021 | IDA-63670 | Int Charges | 8,359.49 |
| Jul 22, 2021 | IDA-63670 | Int Charges | 8,359.49 |
| Aug 13, 2021 | IDA-63670 | Loan Disb | 1,270,302.50 |
| Aug 13, 2021 | IDA-63670 | Loan Disb | 375,328.75 |
| Dec 16, 2021 | IDA-63670 | Loan Disb | 611,985.00 |
| Jan 15, 2022 | IDA-63670 | Int Charges | 19,098.41 |
| Jan 15, 2022 | IDA-63670 | Int Charges | 19,098.41 |
| Aug 26, 2022 | IDA-63670 | Int Charges | 25,304.40 |
| Aug 26, 2022 | IDA-63670 | Int Charges | 704.97 |
| Aug 26, 2022 | IDA-63670 | Int Charges | 704.97 |
| Aug 26, 2022 | IDA-63670 | Int Charges | 25,304.40 |
| Nov 1, 2022 | IDA-63670 | Loan Disb | 1,066,337.50 |
| Jan 15, 2023 | IDA-63670 | Int Charges | 28,438.84 |
| Jan 15, 2023 | IDA-63670 | Int Charges | 28,438.84 |
| May 28, 2019 | IDA-63670 | Loan Disb | 420,402.50 |
| Jul 22, 2020 | IDA-63670 | Int Charges | 3,005.88 |
| Jul 22, 2020 | IDA-63670 | Int Charges | 3,005.88 |
| Jan 16, 2020 | IDA-63670 | Int Charges | 784.87 |
| Jan 16, 2020 | IDA-63670 | Int Charges | 784.87 |
| Jan 16, 2020 | IDA-63670 | Int Charges | 3,005.88 |
| Jan 16, 2020 | IDA-63670 | Int Charges | 3,005.88 |
| Jan 26, 2021 | IDA-63670 | Loan Disb | 447,853.75 |
| Jan 15, 2021 | IDA-63670 | Int Charges | 3,005.88 |
| Jan 15, 2021 | IDA-63670 | Int Charges | 3,005.88 |
| Feb 22, 2021 | IDA-63670 | Loan Disb | 413,208.38 |
| Jan 17, 2019 | IDA-63670 | Loan Commitment | 12,000,000.00 |
| Aug 14, 2024 | IDA-63670 | Int Charges | 63,930.21 |
| Aug 14, 2024 | IDA-63670 | Int Charges | 63,930.21 |
| Mar 28, 2023 | IDA-63670 | Loan Disb | 872,280.75 |
| May 30, 2023 | IDA-63670 | Loan Disb | 685,309.94 |
| Jul 25, 2023 | IDA-63670 | Int Charges | 36,636.17 |
| Jul 25, 2023 | IDA-63670 | Int Charges | 36,636.17 |
| Aug 11, 2023 | IDA-63670 | Loan Disb | 1,600,103.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Procurement | Moderately Satisfactory | 2024-12-15 |
| Project Management | Satisfactory | 2024-12-15 |
| Financial Management | Satisfactory | 2024-12-15 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2024-12-15 |
| Monitoring and Evaluation | Satisfactory | 2024-12-15 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-12-15 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Cumulative number of transactions processed through the retail payments switch Value 0.00 11844.00 1000000.00 Date October 1, 2018 November 30, 2023 December 31, 2024 Comment Financial Institutions connected to and utilizing the retail payments switch Value 0.00 10.00 14.00 Date October 1, 2018 November 30, 2023 December 31, 2024 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Percentage of commercial banks connected to and utilizing the retail payments switch Value 0.00 71.00 75.00 Date October 1, 2018 November 30, 2023 December 31, 2024 Comment Percentage of mobile money operators (MMOs) connected to and utilizing the retail payments switch Value 0.00 0.00 75.00 Date December 31, 2018 December 18, 2023 December 31, 2024 Comment Percentage of deposit-taking MFIs connected to and utilizing the retail payments switch Value 0.00 0.00 20.00 Date December 31, 2018 December 18, 2023 December 31, 2024 Comment Cumulative value of transactions processed through the retail payments switch Value 0.00 225000.00 5000000.00 Date October 1, 2018 November 30, 2023 December 31, 2024 Comment Number of guidelines, laws and regulations implemented Value 0.00 0.00 3.00 Date October 1, 2018 June 23, 2023 December 31, 2024 Comment Number of Private Sector Committee meetings held (citizen engagement) Value 0.00 20.00 40.00 Date October 1, 2018 November 30, 2023 December 31, 2024 Comment Female account ownership at a financial institution or mobile money service provider Value 15.00 0.00 18.00 Date December 31, 2018 June 23, 2023 December 31, 2024 Comment