| Financier | Commitments |
|---|---|
| IDA Grant | 10.50 |
EAC Financial Sector Development and Regionalization Project I: AF
Development Objective
To establish the foundation for financial sector integration among EAC Partner States. For the purposes of this additional financing the 'foundation of financial sector integrationâ?� refers to formulating a regional approach to financial inclusion, furthering legal and regulatory harmonization and building institutional capacity to manage the increasingly integrated financial sector in the EAC.
Key Details
Project Details
P160770
Closed
Smita Wagh
N/A
Eastern and Southern Africa
August 24, 2016
(as of board presentation)
September 30, 2016
N/A
US$ 10.50 million
N/A
2017
US$ 10.50 million
C
August 4, 2022
December 31, 2020
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 10.50 |
| IBRD + IDA Commitment | 10.50 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 10.50 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
Detailed Financial Activity as of February 28, 2025
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Average weekly volume of shares executed through EAC CMI IT platform (Number) Value 118000.00 0.00 266000.00 Date July 21, 2016 September 30, 2019 Comment Number of accounts within regulated institutions (Banks and deposit-taking MFIâ??s) (Number) Value 57.37 0.00 75.00 Date July 21, 2016 September 30, 2019 Comment Number of EAC legal instruments relating to financial sector harmonization Value 0.00 14.00 15.00 Date March 31, 2011 May 31, 2016 September 30, 2016 Comment Estimate of cross border payment transactions Value 3.95 5.90 7.40 Date March 31, 2011 June 30, 2015 September 30, 2016 Comment Number of accounts with regulated institutions (banks, MFIs) Value 24.70 57.37 48.20 Date March 31, 2011 December 31, 2015 September 30, 2016 Comment Number of EAC legal instruments relating to financial sector harmonization in the EAC (Number) Value 14.00 0.00 25.00 Date July 21, 2016 September 30, 2019 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Development of implementation strategies for certification programs (Number) Value 0.00 0.00 2.00 Date July 21, 2016 September 30, 2019 Comment Number of policy papers prepared by the PAT Value 7.00 0.00 10.00 Date July 21, 2016 September 30, 2019 Comment Harmonized statistics for financial subsectors represented in the database (Number Value 3.00 0.00 5.00 Date July 21, 2016 September 30, 2019 Comment Comp 1: Number of regional action plans to increase access to finance in the EAC Value 0.00 0.00 3.00 Date December 30, 2010 May 31, 2016 September 30, 2016 Comment Comp 2:Number of Prudential indicators harmonized Value 0.00 67.00 66.00 Date March 31, 2012 May 31, 2016 September 30, 2016 Comment Comp 4: Number of capital markets CSDs linked Value 0.00 2.00 4.00 Date March 31, 2011 May 31, 2016 September 30, 2016 Comment Comp 5: Total volume of national bonds outstanding in the region Value 9.04 15.20 18.00 Date March 31, 2011 December 31, 2015 September 30, 2016 Comment Comp 6A: Number of policy papers prepared by the PAT and presented to the FSDRP I Steering Ctte Value 0.00 7.00 8.00 Date March 31, 2011 May 31, 2016 September 30, 2016 Comment Component 3A: IAIS: Minimum compliance level with IAIS to be achieved by each country Value 28.00 35.00 33.00 Date March 31, 2011 September 30, 2014 September 30, 2016 Comment Comp 6B: Number of research papers prepared by PAT and presented to the FSDRP I Steering Committee. Value 0.00 3.00 5.00 Date March 31, 2011 March 31, 2014 September 30, 2016 Comment Component 3B: IOSCO: Minimum compliance level to be achieved with IOSCO principles Value 57.00 57.00 70.00 Date March 31, 2011 September 30, 2014 September 30, 2016 Comment Comp 6C: Number of financial subsectors repesented in the database developed by FSDRP PAT Value 0.00 3.00 4.00 Date March 31, 2011 March 31, 2014 September 30, 2016 Comment