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$1,318,114.00 (Project budget includes all project-funded activities)
Last Updated Date
Jun 12, 2021
Project Estimated End Date
Dec 31, 2017
Project Description
The project will support the roll-out of ANZ's mobile banking platform to the rural areas of Solomon Islands and Papua New Guinea. 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
This project aims to increase basic financial services to the unbanked and under banked populations in the rural areas of the Solomon Islands (SI) and Papua New Guinea (PNG). This project will extend ANZ's basic banking functionality to SI and PNG via the mobile platform and through the rural merchant and sales agents network, enabling access to basic banking services and financial education to under/unbanked population in rural areas of SI and PNG.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of trainers trained
Not Available
86
Number of entities receiving advisory services
Not Available
1
Number of entities receiving in-depth advisory services
Not Available
1
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
Not Available
30
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
Not Available
18
Number of training modules and new products developed
Not Available
10
Number of entities that implemented recommended changes
Not Available
1
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
Not Available
1
Number of individuals trained by project-trained people and/or institutions
Not Available
0
Number of women trained by project-trained people and/or institutions
Not Available
0
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
While the nature of the project doesn't pose significant E&S risk, there is potential social risk associated with mobile banking initiatives as the customer base tends to be less financially educated, so it may be linked to consumer protection issues such as data confidentiality, information security, etc.
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
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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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