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$1,049,999.00 (Project budget includes all project-funded activities)
Last Updated Date
Jul 3, 2022
Project Estimated Start Date
Jul 1, 2018
Project Estimated End Date
Dec 31, 2020
Project Description
The project will support Kaebauk Investimentu no Finansas build a suite of digital financial services offering by launching a mobile and agent banking operation by an Other Deposit Taking Institution in Timor-Leste. This project is supported by the Department of Foreign Affairs and Trade (DFAT)-Australia Financial Inclusion Program in Timor-Leste.
Development Results
The project will support Kaebauk Investimentu no Finansas (KIF), Timor-Leste's first Other Deposit Taking Institution pioneer digital financial services in the country by launching mobile and agent banking operations. The aim is to promote financial inclusion and address gaps related to access to financial services for the unbanked mass market in Timor-Leste with a focus on women and farmers.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of new financial products launched
0
0
Number of micro loans outstanding
12,653
12,653
Number of farmers reached (direct and indirect)
965
5,674
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
0
7
Number of previously unbanked customers
0
0
E&S Risks / Impacts and Mitigation
Performance Standard
Description & Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
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.
Press-Release
Additional Documents
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