Financial inclusion: Financial inclusion and access to finance, particularly for SMEs, remains a priority for IFC and for FIG. The use of digital financial services can enhance the outreach of formal financial services to underserved areas and populations, especially when leveraging the extensive coverage of a mobile money network such as Orange Money. The project will help bring a new type of client and new target segments to FIG (MNOs and their distribution networks) that can significantly contribute to increasing SME financing. Formalization and poverty reduction: Digital credit products (such as Tik Tak) offer an opportunity for borrowers to build a verifiable financial track record and offer an alternative to non-trackable, informal lending solutions. In Kenya, for example, studies revealed that access to formal, digital credit products resulted in a 30% reduction of credits at shopkeepers, a 15% reduction of savings groups loans and 15% decrease of lending from family and friends (CGAP, 2018). Research in Kenya indicates that access to digital credit has allowed 194,000 households to get out of extreme poverty and enhanced the living conditions of women entrepreneurs and head of households. COVID-19: The COVID-19 pandemic highlights the important role digital financial services can play in reducing disruptions to supply chains, maintaining economic activity, supporting social transfers and ensuring safe transactions while maintaining social distancing. This project will help OBA develop a product that can give access to credit to mobile money distributors helping them to better manage their activity and their cashflows. Competitiveness: The Upstream project is expected to increase competitiveness in digital financial services in West Africa by increasing the volume of transactions providing financing to MSMEs.

Indicator	Cumulative
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated	0
Number of new financial products launched	0
Value of IFC financing facilitated (US$)	0
Number of new financial products designed	null
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination	null
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed	null

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 IFCs Sustainability Policy, IFC team has screened this project to assess consistency with IFC Performance Standards.	IFCs advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist OBA and other public stakeholders as final decision makers, in gaining a good understanding of IFCs performance standards.