PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

601347

Primary Business Area

Finance and Markets

Disclosure Date

Apr 23, 2017

Country

Tajikistan

Region

Central Asia and Turkiye

IFC Approval Date

Mar 25, 2016

Status

Completed

Estimated Total Budget

$2,970,515.00
(Project budget includes all project-funded activities)

Last Updated Date

Jan 11, 2024

Project Estimated Start Date

Apr 1, 2016

Project Estimated End Date

Mar 31, 2020

Project Description

The Electronic and Digital Financial Services Project in Azerbaijan and Central Asia (EDFS in ACA) is currently being implemented by Finance & Markets Global Practice of the World Bank Group (International Finance Corporation arm) in Azerbaijan, Kyrgyzstan and Tajikistan. The major objective of this Project is to increase access to finance, facilitate the spread of electronic and digital financial services in far-flung rural areas, as well as expand financial inclusion of the population that does not fully participate in the formal financial system. EDFS in ACA also focuses on channeling remittance flows into the official financial system, which is very relevant for Project countries where they remain a significant source of income for vulnerable households. The EDFS in ACA Project aims to accomplish the following targets: o Increase number of registered users in in project countries o Increase volume of non-cash transactions and expand agents network for electronic and digital financial services operations. The Project includes 3 major components: A) Improving the regulatory environment through the development of the payment infrastructure by establishing a public-private dialogue B) Facilitating a joint payment platform through industry-wide consensus and stakeholder awareness-raising C) Identifying and engaging with potential partners who will develop and deploy mobile money products

Development Results

E&S Risks / Impacts and Mitigation