PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

608187

Primary Business Area

Financial Institutions Group

Disclosure Date

Jul 1, 2024

Country

Ghana

Region

Africa

IFC Approval Date

Mar 15, 2024

Status

Active

Estimated Total Budget

$520,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jul 2, 2024

Project Estimated Start Date

Jan 1, 2024

Project Estimated End Date

Jun 30, 2027

Project Description

This project is designed to fortify the legal and institutional foundations of Ghana's credit reporting framework. Technical assistance and advisory support will be provided to the Bank of Ghana and key players in the credit information sharing ecosystem, including credit bureaus and financial institutions, to ensure the effective implementation of the Credit Reporting Regulations, 2020. Key aspects such as data submission, privacy, data security, and dispute resolution will be addressed. The project will also work on eliminating the current barriers that impede the credit reporting system's efficiency. Furthermore, it aims to enhance the use of alternative data and analytics by credit bureaus to improve access to credit for micro and small enterprises, which are predominantly informal and lack a credit history.

Development Results

E&S Risks / Impacts and Mitigation