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$1,384,784.00 (Project budget includes all project-funded activities)
Last Updated Date
Mar 29, 2019
Project Estimated End Date
Sep 30, 2016
Project Description
The project will support the expansion of BSP Rural's successful mobile banking model in Papua New Guinea to the Solomon Islands. This will include piloting the business model, establishing an agent network to support mobile banking transactions, supporting
sales and e-channel expansion, and integrating financial literacy training in the customer acquisition process.
Development Results
The goal of the project is to increase access to affordable, efficient and secure banking and payment services to the underbanked and unbanked, especially in the rural areas of the Solomon Islands. Specifically, the project will assist Bank South Pacific to promote an inclusive financial system in the Solomon Islands by expanding the coverage of payment system and formal savings mechanism, as well as by reducing the risk and costs associated with cash-based financial transactions.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of women participants in workshops, training events, seminars, conferences, etc.
Not Available
9
Number of entities receiving in-depth advisory services
Not Available
1
Number of new financial products designed
Not Available
2
Number of participants in workshops, training events, seminars, conferences, etc.
Not Available
17
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
Not Available
5
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
Not Available
6
Number of trainers trained
Not Available
75
Number of training modules and new products developed
Not Available
4
Number of workshops, training events, seminars, conferences, etc.
Not Available
4
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project
design. Environmental and social risks will continue to be reviewed throughout the life-cycle of the project.
IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide
recommendations for appropriate mitigation measures whenever warranted.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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