Economic & Monetary Community of Central Africa Financial Institutions

Abstract*

The CEMAC (Commission de la Communaute' Economique et Mone'taire de l 'Afrique Centrale) Regional Institutions Support Project aims to strengthen Central African regional institutions so that they can fulfill their mandates to encourage an expanded, better governed regional market, and a more transparent, better regulated and more competitive financial system. This will facilitate the reutilization of oil revenues for investment in Central Africa... Show More

Development Objective

The project aims to strengthen Central African regional institutions so that they can fulfill their mandates to encourage an expanded, better governed regional market, and a more transparent, better regulated and more competitive financial system. This will facilitate the re-utilization of oil revenues for investment in Central Africa. The project supports programs approved by the member governments designed to improve the efficiency of regional institutions. This will be accomplished by strengthening regional institutions. Project outcome indicators are given in Annex 3 and include increases in the percentage of foreign reserves managed regionally byBEAC, growth of investment in regional projects (primarily infrastructure investments), and increases in the percentage of banks meeting key prudential norms.

Key Details

Project Details

Project ID
P099833
Status
Closed
Team Leader
Gilberto de Barros , Ali Zafar
Borrower 2
BEAC

Country
Africa
Disclosure Date
December 19, 2007
Approval Date
(as of board presentation)
December 4, 2008
Effective Date
April 27, 2009

Total Project Cost 1
US$ 64.30 million
Implementing Agency
PIU - UGRIF
Region
Africa
Fiscal Year 3
2009

Commitment Amount
US$ 52.00 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
February 29, 2016

Last Stage Reached
BANK APPROVED
Last Update Date
July 15, 2022

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 - Economic Policy

FY17 - Fiscal Policy9%
- FY17 - Fiscal sustainability3%
- FY17 - Public Expenditure Policy3%
- FY17 - Tax policy3%
FY17 - Macro-financial policies9%
- FY17 - External Finance3%
- FY17 - Macroeconomic Resilience3%
- FY17 - Monetary and Credit Policies3%
FY17 - Trade18%
- FY17 - Trade Facilitation6%
- FY17 - Trade Logistics6%
- FY17 - Trade Policy6%

FY17 - Finance

FY17 - Financial Stability15%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring15%

FY17 - Private Sector Development

FY17 - Business Enabling Environment10%
- FY17 - Regulation and Competition Policy10%
FY17 - Regional Integration41%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	32.00
Borrower/Recipient	12.30
Foreign Multilateral Institutions (unidentified)	2.00
IDA Grant	18.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	50.00
IBRD + IDA Commitment	50.00

Lending Instrument
Grant Amount	2.00
Total Project Cost**	64.30

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 27, 2014	IDA-H4340	Loan Disb	420,035.72
Sep 3, 2013	IDA-45290	Loan Disb	3,017,061.00
Nov 26, 2014	IDA-45290	Loan Disb	949,938.25
Nov 26, 2014	IDA-H4340	Loan Disb	949,938.25
Mar 18, 2015	IDA-H4340	Loan Disb	322,945.25
Mar 18, 2015	IDA-45290	Loan Disb	1,291,781.00
Mar 15, 2014	IDA-45290	Int Charges	48,825.43
Mar 15, 2014	IDA-45290	Int Charges	48,825.43
Mar 15, 2014	IDA-45290	Int Charges	537.66
Mar 15, 2014	IDA-45290	Int Charges	537.66
Sep 15, 2014	IDA-45290	Int Charges	49,521.62
Sep 15, 2014	IDA-45290	Int Charges	49,521.62
Mar 24, 2015	IDA-45290	Int Charges	1,011.92
Mar 24, 2015	IDA-45290	Int Charges	1,011.92
Mar 24, 2015	IDA-45290	Int Charges	50,471.52
Mar 24, 2015	IDA-45290	Int Charges	50,471.52
Sep 24, 2014	IDA-45290	Loan Disb	995,322.00
Sep 24, 2014	IDA-H4340	Loan Disb	995,322.00
Sep 15, 2014	IDA-45290	Int Charges	52.28
Sep 15, 2014	IDA-45290	Int Charges	52.28
Jan 11, 2016	IDA-H4340	Loan Disb	20,560.90
Jan 11, 2016	IDA-45290	Loan Disb	680,069.90
Mar 15, 2016	IDA-45290	Int Charges	27.28
Mar 15, 2016	IDA-45290	Int Charges	27.28
Mar 15, 2016	IDA-45290	Int Charges	76,568.66
Mar 15, 2016	IDA-45290	Int Charges	76,568.66
Nov 24, 2015	IDA-45290	Loan Disb	147,779.64
Nov 24, 2015	IDA-H4340	Loan Disb	2,437,506.20
Sep 3, 2015	IDA-H4340	Loan Disb	84,633.06
Sep 3, 2015	IDA-45290	Loan Disb	3,011,555.80
Sep 16, 2015	IDA-45290	Int Charges	1,898.85
Sep 16, 2015	IDA-45290	Int Charges	1,898.85
Sep 16, 2015	IDA-45290	Int Charges	63,294.13
Sep 16, 2015	IDA-45290	Int Charges	63,294.13
May 26, 2015	IDA-H4340	Loan Disb	1,557,373.10
May 26, 2015	IDA-45290	Loan Disb	1,399,836.40
Mar 15, 2017	IDA-45290	Int Charges	717.23
Mar 19, 2024	IDA-45290	Loan Repay	208,751.84
Mar 19, 2024	IDA-45290	Int Charges	13.04
Mar 19, 2024	IDA-45290	Int Charges	13.04
Mar 19, 2024	IDA-45290	Int Charges	6,627.12
Mar 19, 2024	IDA-45290	Int Charges	6,627.12
Mar 19, 2024	IDA-45290	Int Charges	69,459.64
Mar 19, 2024	IDA-45290	Int Charges	69,459.64
Sep 23, 2019	IDA-45290	Int Charges	75,676.62
Sep 23, 2019	IDA-45290	Int Charges	2,519.61
Sep 23, 2019	IDA-45290	Int Charges	2,519.61
Sep 23, 2019	IDA-45290	Loan Repay	214,953.36
Mar 15, 2019	IDA-45290	Loan Repay	443.47
Mar 25, 2019	IDA-45290	Loan Repay	218,427.78
Mar 25, 2019	IDA-45290	Int Charges	79,511.22
Mar 25, 2019	IDA-45290	Int Charges	79,511.22
Sep 15, 2020	IDA-45290	Loan Repay	222,638.45
Sep 15, 2020	IDA-45290	Int Charges	18.54
Sep 15, 2020	IDA-45290	Int Charges	18.54
Sep 15, 2020	IDA-45290	Int Charges	80,984.75
Sep 15, 2020	IDA-45290	Int Charges	80,984.75
Sep 15, 2020	IDA-45290	Int Charges	2,648.48
Sep 15, 2020	IDA-45290	Int Charges	2,648.48
Mar 19, 2020	IDA-45290	Int Charges	4,064.67
Mar 19, 2020	IDA-45290	Int Charges	4,064.67
Sep 15, 2021	IDA-45290	Loan Repay	224,109.48
Sep 15, 2021	IDA-45290	Int Charges	79,779.99
Sep 15, 2021	IDA-45290	Int Charges	79,779.99
Mar 15, 2021	IDA-45290	Loan Repay	130,611.28
Mar 15, 2021	IDA-45290	Loan Repay	87,488.20
Mar 15, 2021	IDA-45290	Int Charges	78,453.88
Mar 15, 2021	IDA-45290	Int Charges	78,453.88
Mar 15, 2021	IDA-45290	Loan Repay	6,399.75
Sep 15, 2022	IDA-45290	Int Charges	5,473.97
Sep 15, 2022	IDA-45290	Int Charges	5,473.97
Sep 15, 2022	IDA-45290	Loan Repay	203,507.44
Sep 15, 2022	IDA-45290	Int Charges	70,973.24
Sep 15, 2022	IDA-45290	Int Charges	70,973.24
Mar 15, 2022	IDA-45290	Int Charges	70,582.27
Mar 15, 2017	IDA-45290	Int Charges	717.23
Mar 15, 2017	IDA-45290	Int Charges	79,470.51
Mar 15, 2017	IDA-45290	Int Charges	79,470.51
Jul 19, 2016	IDA-45290	Loan Disb	613,230.00
Jul 25, 2016	IDA-45290	Loan Disb	361,967.28
Sep 7, 2016	IDA-H4340	Loan Disb	-212,297.56
Sep 15, 2016	IDA-45290	Int Charges	726.28
Sep 15, 2016	IDA-45290	Int Charges	726.28
Sep 15, 2016	IDA-45290	Int Charges	78,466.75
Sep 15, 2016	IDA-45290	Int Charges	78,466.75
Sep 15, 2017	IDA-45290	Int Charges	71.66
Sep 15, 2017	IDA-45290	Int Charges	71.66
Sep 15, 2017	IDA-45290	Int Charges	83,911.99
Sep 15, 2017	IDA-45290	Int Charges	83,911.99
Sep 15, 2017	IDA-45290	Int Charges	-17,877.17
Sep 15, 2017	IDA-45290	Int Charges	17,877.17
Jun 16, 2017	IDA-H4340	Loan Cancel	825,871.10
Sep 2, 2016	IDA-45290	Loan Cancel	6,544,036.00
Sep 19, 2018	IDA-45290	Int Charges	82,639.58
Sep 19, 2018	IDA-45290	Int Charges	82,639.58
Sep 19, 2018	IDA-45290	Int Charges	441.85
Sep 19, 2018	IDA-45290	Int Charges	441.85
Mar 15, 2018	IDA-45290	Int Charges	83,238.04
Mar 15, 2018	IDA-45290	Int Charges	83,238.04
Mar 15, 2018	IDA-45290	Int Charges	1,953.40
Mar 15, 2018	IDA-45290	Int Charges	1,953.40
Mar 19, 2020	IDA-45290	Int Charges	35.31
Mar 19, 2020	IDA-45290	Int Charges	35.31
Mar 19, 2020	IDA-45290	Loan Repay	211,818.03
Mar 19, 2020	IDA-45290	Int Charges	75,323.36
Mar 19, 2020	IDA-45290	Int Charges	75,323.36
Sep 23, 2019	IDA-45290	Int Charges	44.70
Sep 23, 2019	IDA-45290	Int Charges	44.70
Sep 23, 2019	IDA-45290	Int Charges	75,676.62
Sep 15, 2013	IDA-45290	Int Charges	168.26
Sep 15, 2013	IDA-45290	Int Charges	168.26
Sep 15, 2013	IDA-45290	Int Charges	35,402.86
Sep 15, 2013	IDA-45290	Int Charges	35,402.86
Sep 4, 2013	IDA-H4340	Loan Disb	2,159,187.20
Feb 27, 2014	IDA-45290	Loan Disb	1,050,089.20
Mar 15, 2022	IDA-45290	Int Charges	57.10
Mar 15, 2022	IDA-45290	Int Charges	57.10
Mar 15, 2022	IDA-45290	Loan Repay	216,774.84
Mar 15, 2022	IDA-45290	Int Charges	70,582.27
Sep 15, 2021	IDA-45290	Int Charges	2,361.73
Sep 15, 2021	IDA-45290	Int Charges	2,361.73
Sep 18, 2023	IDA-45290	Loan Repay	207,285.55
Sep 18, 2023	IDA-45290	Int Charges	64,155.64
Sep 18, 2023	IDA-45290	Int Charges	64,155.64
Sep 18, 2023	IDA-45290	Int Charges	1,249.14
Sep 18, 2023	IDA-45290	Int Charges	1,249.14
Mar 15, 2023	IDA-45290	Loan Repay	947.78
Mar 15, 2023	IDA-45290	Loan Repay	208,269.27
Mar 15, 2023	IDA-45290	Int Charges	70,919.08
Mar 15, 2023	IDA-45290	Int Charges	70,919.08
Dec 4, 2008	IDA-H4340	Loan Commitment	18,000,000.00
Dec 4, 2008	IDA-45290	Loan Commitment	32,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Counterpart Funding	Highly Satisfactory	2015-10-01
Financial Management	Satisfactory	2015-10-01
Overall Implementation Progress (IP)	Satisfactory	2015-10-01
Progress towards achievement of PDO	Moderately Satisfactory	2015-10-01
Procurement	Satisfactory	2015-10-01
Project Management	Satisfactory	2015-10-01
Monitoring and Evaluation	Moderately Satisfactory	2015-10-01
Overall	Moderable	2015-10-01

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 03-30-2017
Outcomes	Moderately Unsatisfactory
Risk to Development Outcome	Modest
Bank Performance	Moderately Unsatisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Moderately Satisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 06-30-2017	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Unsatisfactory	N/a
Risk To Development Outcome	Modest	N/a
Bank Performance	Unsatisfactory	N/a
Borrower Performance	Moderately Unsatisfactory	N/a
Government Performance	Moderately Unsatisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	Substantial	N/a
M&e Quality	Negligible	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increase in percentage of foreign reserves managed regionally by BEAC Value 35.00 50.00 50.00
Date November 11, 2007 December 1, 2014 September 21, 2015
Comment
Banks accounting for percentage increase of sector assets complying with agreed prudential norms by end of project. Value 35.00 70.00 80.00
Date May 3, 2010 September 21, 2015 February 29, 2016
Comment
Growth of BDEAC financing of regional projects. Value 8.20 19.00 15.00
Date December 31, 2007 September 21, 2015 February 29, 2016
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Monetary programming conducted at regional level by Y4	Value	At national level	Computer model has been completed, training of sta	At regional (CEMAC) level
	Date	June 30, 2008	September 21, 2015	February 29, 2016
	Comment

Central Bank/Government paper issued by Y3 (none issued now)	Value	None issued now	Cameroon, Gabon and Tchad have all succesfully iss	Central Bank/Government paper issued by Y3
	Date	December 31, 2007	September 21, 2015	February 29, 2016
	Comment

Cross-border electronic payments transactions in wholesale and retail systems (SYGMA and SYSTAC) cumulative increase of 33% by Y3 and 61% by Y5.	Value	(SYGMA and SYSTAC) cumulative increase of 33% by Y	Cross-border payment are said to have increased by	(SYGMA and SYSTAC) cumulative increase of 61% by Y
	Date	December 31, 2011	September 21, 2015	February 29, 2016
	Comment

Revised and applied BDEAC's policies, procedures and internal controls by Y3	Value	Outdated policies and procedures	Procedures are being developed.	Revised and applied by Y3
	Date	September 30, 2008	September 21, 2015	February 29, 2016
	Comment

All projects evaluated by BDEAC according to new policies by Y3.	Value	Non-standard policies	The new policy is being finalized. New BDEAC manag	All projects evaluated
	Date	June 30, 2008	September 21, 2015	February 29, 2016
	Comment

Improved portfolio performance of BDEAC, as measured by increased ratio of annual disbursements/commitments in the preceding year from 43% in 2007 to 70% by Y3	Value	43% in 2007	60%	70% by Y3
	Date	December 31, 2007	September 21, 2015	February 29, 2016
	Comment

New BDEAC's MIS, including accounting system, substantially in place by mid-term and generating financial reports in line with international standards by Y5	Value	Lack of MIS	Part of the system is in place and should be compl	In place by mid-term and generating financial repo
	Date	June 30, 2008	September 21, 2015	February 29, 2016
	Comment

Updated accounting plan for banks in place and used by banks by Y3	Value	Outdated accounting plan	New accounting for cross border and consolidated f	In place and used by banks by Y3
	Date	June 30, 2008	September 21, 2015	February 29, 2016
	Comment

Plan for application of microfinance regulatory framework and supervision system in place and applied by mid-term review	Value	Not applied	Plan is in place.	In place and applied by mid-term review
	Date	June 30, 2008	September 21, 2015	February 29, 2016
	Comment

Increase in percentage of foreign reserves managed regionally by BEAC	Value	35.00	50.00	50.00
	Date	November 11, 2007	December 1, 2014	September 21, 2015
	Comment

Growth of BDEAC financing of regional projects.	Value	8.20	19.00	15.00
	Date	December 31, 2007	September 21, 2015	February 29, 2016
	Comment