Mozambique: Financial Inclusion and Stability Project

Abstract*

The objective of the Financial Inclusion and Stability Project for Mozambique is to increase financial inclusion among underserved groups and MSMEs, while strengthening the overall financial safety net. There are three components to the project, the first component being increasing usage of transaction accounts and access to finance for MSMEs. The objective of this component is to support increased usage of transaction accounts (bank or mobile money... Show More

Development Objective

The objective of the Project is to increase financial inclusion among underserved groups and MSMEs, while strengthening the overall financial safety net.

Key Details

Project Details

Project ID
P166107
Status
Closed
Team Leader
Ruben Barreto , Julian Casal
Borrower 2
Republic of Mozambique

Country
Mozambique
Disclosure Date
May 18, 2018
Approval Date
(as of board presentation)
December 13, 2018
Effective Date
August 29, 2019

Total Project Cost 1
US$ 40.00 million
Implementing Agency
Deposit Guarantee Fund,Ministry of Education and Human Development,Ministry of Justice and Constitutional and Religious Affairs,Ministry of Economy and Finance,Bank of Mozambique,Instituto Nacional de Accao Social (INAS),Centro de Desenvolvimento de Sistemas de Informação de Finanças (CEDSIF),Instituto de Supervisao de Seguros de Mocambique
Region
Eastern and Southern Africa
Fiscal Year 3
2019

Commitment Amount
US$ 32.50 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2024

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
May 15, 2024

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 Access50%
- FY17 - Credit Infrastructure15%
- FY17 - Financial inclusion33%
- FY17 - Payment & markets infrastructure18%
FY17 - Financial Stability42%

FY17 - Private Sector Development

FY17 - ICT13%
- FY17 - ICT Solutions13%

FY17 - Public Sector Management

FY17 - Public Administration18%
- FY17 - E-Government, incl. e-services18%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Grant	32.50

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	32.50
IBRD + IDA Commitment	32.50

Lending Instrument
Grant Amount	N/A
Total Project Cost**	40.00

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$)
Apr 25, 2024	IDA-D4050	Loan Disb	1,218,078.20
Jan 25, 2024	IDA-D4050	Loan Disb	970,332.75
May 15, 2024	IDA-D4050	Loan Disb	1,155,365.80
Mar 13, 2024	IDA-D4050	Loan Disb	976,576.50
Mar 13, 2024	IDA-D4050	Loan Disb	852,386.20
Jul 2, 2024	IDA-D4050	Loan Disb	1,905,836.50
Jun 11, 2024	IDA-D4050	Loan Disb	1,522,290.10
Feb 8, 2024	IDA-D4050	Loan Disb	323,028.34
Feb 8, 2024	IDA-D4050	Loan Disb	693,936.70
Jun 24, 2024	IDA-D4050	Loan Disb	955,202.00
Jun 20, 2024	IDA-D4050	Loan Disb	1,000,000.00
Jul 12, 2024	IDA-D4050	Loan Disb	3,811,673.00
Nov 22, 2023	IDA-D4050	Loan Disb	-970,332.75
Nov 15, 2023	IDA-D4050	Loan Disb	755,537.06
Nov 15, 2023	IDA-D4050	Loan Disb	792,609.06
Apr 3, 2024	IDA-D4050	Loan Disb	412,732.44
Jan 13, 2023	IDA-D4050	Loan Cancel	7,500,530.50
Jun 9, 2023	IDA-D4050	Loan Disb	604,034.75
Apr 28, 2023	IDA-D4050	Loan Cancel	-7,492,743.00
Aug 30, 2023	IDA-D4050	Loan Disb	970,332.75
Aug 31, 2023	IDA-D4050	Loan Disb	169,779.75
Aug 31, 2023	IDA-D4050	Loan Disb	616,650.10
Jun 8, 2023	IDA-D4050	Loan Disb	485,982.94
Jun 8, 2023	IDA-D4050	Loan Disb	404,320.30
Aug 1, 2022	IDA-D4050	Loan Disb	319,522.38
Apr 28, 2023	IDA-D4050	Loan Cancel	7,492,743.00
Jan 24, 2023	IDA-D4050	Loan Disb	428,897.34
Feb 9, 2022	IDA-D4050	Loan Disb	243,862.27
Oct 20, 2021	IDA-D4050	Loan Disb	1,496,810.50
Nov 29, 2021	IDA-D4050	Loan Disb	2,029,028.60
Jul 7, 2022	IDA-D4050	Loan Disb	242,972.27
Nov 6, 2020	IDA-D4050	Loan Disb	68,539.69
Nov 6, 2020	IDA-D4050	Loan Disb	107,796.41
Feb 25, 2021	IDA-D4050	Loan Disb	341,062.62
Jun 15, 2021	IDA-D4050	Loan Disb	389,821.97
Aug 3, 2021	IDA-D4050	Loan Disb	356,750.56
Jul 23, 2021	IDA-D4050	Loan Disb	2,059,000.00
Jan 29, 2020	IDA-D4050	Loan Disb	5,835.17
Jan 29, 2020	IDA-D4050	Loan Disb	5,868.92
Jan 29, 2020	IDA-D4050	Loan Disb	6,803.21
Feb 19, 2020	IDA-D4050	Loan Disb	5,736.22
Feb 19, 2020	IDA-D4050	Loan Disb	6,649.40
Dec 31, 2019	IDA-D4050	Loan Disb	8,422.31
Dec 31, 2019	IDA-D4050	Loan Disb	10,885.90
Dec 10, 2019	IDA-D4050	Loan Disb	17,101.26
Dec 10, 2019	IDA-D4050	Loan Disb	2,000,000.00
Dec 10, 2019	IDA-D4050	Loan Disb	10,885.90
Dec 10, 2019	IDA-D4050	Loan Disb	17,092.42
Dec 16, 2019	IDA-D4050	Loan Disb	10,925.31
Dec 16, 2019	IDA-D4050	Loan Disb	5,723.63
Dec 16, 2019	IDA-D4050	Loan Disb	8,422.30
Dec 16, 2019	IDA-D4050	Loan Disb	-8,422.30
Nov 6, 2020	IDA-D4050	Loan Disb	95,375.99
Dec 13, 2018	IDA-D4050	Loan Commitment	40,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Financial Management	Satisfactory	2024-05-23
Monitoring and Evaluation	Moderately Satisfactory	2024-05-23
Overall Implementation Progress (IP)	Moderately Satisfactory	2024-05-23
Progress towards achievement of PDO	Moderately Satisfactory	2024-05-23
Procurement	Moderately Satisfactory	2024-05-23
Project Management	Moderately Satisfactory	2024-05-23

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Size of the deposit insurance fund as a share of eligible deposits (without contributions from other development partners) Value 0.11 0.40 0.40
Date December 31, 2018 December 31, 2023 June 30, 2024
Comment
High risk DNFBPs sectors subject to an AML/CFT on-site inspection carried out by the relevant supervisory authority Value 0.00 81.00 80.00
Date March 31, 2023 March 31, 2024 June 30, 2024
Comment
Targeted recipients of government transfers that receive digital payments Value 0.00 26.00 25.00
Date September 30, 2018 March 31, 2024 June 30, 2024
Comment
Adults making or receiving digital payments in the past year Value 34.00 49.00 42.00
Date December 31, 2017 December 31, 2021 June 30, 2024
Comment
MSMEs and individuals that received loans secured by movable assets registered in the collateral registry Value 0.00 18824.00 3750.00
Date September 30, 2018 March 31, 2024 June 30, 2024
Comment
Life-long learning facilitators Value 0.00 0.00 0.00
Date
Comment
Beneficiaries of social transfers in urban areas Value 0.00 0.00 0.00
Date
Comment
Beneficiaries of social transfers in rural areas Value 0.00 0.00 0.00
Date
Comment
Women Value 27.00 39.00 40.00
Date December 31, 2017 December 31, 2021 June 30, 2024
Comment
Poorest 40% of the population Value 20.00 20.00 0.00
Date
Comment
Women-led MSMEs and women that received loans secured by movable assets registered in the collateral registry (Number) Value 0.00 9268.00 3000.00
Date December 31, 2018 March 31, 2024 June 30, 2024
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Strengthened bank recovery resolution framework Value No Yes Yes
Date September 30, 2018 March 31, 2024 June 30, 2020
Comment
IT solution that enables Treasury to interface with e-money payment systems installed and operational Value 0.00 81.00 80.00
Date September 30, 2018 March 31, 2024 June 30, 2024
Comment
Improved DGF’s ability to undertake deposit insurance functions Value No No Yes
Date September 30, 2018 March 31, 2024 December 31, 2023
Comment
Active mobile money agents (per 100,000 adults) Value 277.00 1246.00 600.00
Date December 31, 2018 December 31, 2023 June 30, 2024
Comment
Expanded coverage of deposit insurance Value No Yes Yes
Date September 30, 2018 March 31, 2024 June 30, 2021
Comment
Individuals benefitting from financial literacy awareness program Value 0.00 0.60 250.00
Date September 30, 2018 March 31, 2024 June 30, 2024
Comment
Recipients of government transfers reporting satisfaction with the digitized payment method(s) (citizen engagement) Value 0.00 66.00 66.00
Date September 30, 2018 June 30, 2024 December 31, 2023
Comment
A centralized, web-based collateral registry established and operational Value No Yes Yes
Date September 30, 2018 March 31, 2024 June 30, 2021
Comment
Decree establishing a credit guarantee fund approved Value No Yes Yes
Date March 31, 2023 April 30, 2024 June 30, 2024
Comment
Districts covered by active mobile money agents Value 77.00 100.00 0.00
Date
Comment

Size of the deposit insurance fund as a share of eligible deposits (without contributions from other development partners)	Value	0.11	0.40	0.40
	Date	December 31, 2018	December 31, 2023	June 30, 2024
	Comment

High risk DNFBPs sectors subject to an AML/CFT on-site inspection carried out by the relevant supervisory authority	Value	0.00	81.00	80.00
	Date	March 31, 2023	March 31, 2024	June 30, 2024
	Comment

Adults making or receiving digital payments in the past year	Value	34.00	49.00	42.00
	Date	December 31, 2017	December 31, 2021	June 30, 2024
	Comment

Women	Value	27.00	39.00	40.00
	Date	December 31, 2017	December 31, 2021	June 30, 2024
	Comment

Active mobile money agents (per 100,000 adults)	Value	277.00	1246.00	600.00
	Date	December 31, 2018	December 31, 2023	June 30, 2024
	Comment

Expanded coverage of deposit insurance	Value	No	Yes	Yes
	Date	September 30, 2018	March 31, 2024	June 30, 2021
	Comment

Districts covered by active mobile money agents	Value	77.00	100.00	0.00
	Date
	Comment

Poorest 40% of the population	Value	20.00	20.00	0.00
	Date
	Comment

Women-led MSMEs and women that received loans secured by movable assets registered in the collateral registry (Number)	Value	0.00	9268.00	3000.00
	Date	December 31, 2018	March 31, 2024	June 30, 2024
	Comment

Mozambique: Financial Inclusion and Stability Project

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 April 30, 2025

Detailed Financial Activity as of April 30, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS