PADSFI is an institutional support of UA 9.41 million (USD 12.04 million) to the Democratic Republic of Congo from ADF 15 resources. It aims to support financial sector development and financial inclusion. It is aligned with the Economic Recovery Support Project (PAREC) and the Domestic Resource Mobilisation and Public Finance Modernisation Support Project (PAMRIM-FP), whose intervention areas are intrinsically linked to the objectives of this project, particularly as regards support for resource mobilisation and improved access to financial services for vulnerable people. The Bank's intervention will achieve the following five (5) project outcomes: (i) mobilisation of long-term resources (including green finance) by broadening the investor base and revising the regulatory frameworks; (ii) improved access of more than 25 million vulnerable populations (women, young people, rural populations, and MSMEs) to basic and adapted financial services, through increased interoperability of digital financial services, due to the effective participation of at least twenty financial service providers in the national switch by 2026 compared to 7 only today; (iii) stability of the financial sector through operationalisation of the central payment incidents centre and the Financial Services Quality Observatory (OQSF); (iv) availability of disaggregated data on financial inclusion (gender, sector, rural/urban area etc); and (v) capacity building for DRC's financial services ecosystem stakeholders (i.e. 80 microfinance institutions, 60 cooperatives, 4 e-money issuers, 14 commercial banks, 2 non-bank financial institutions and the BCC). The project primarily contributes to climate adaptation results. As such, 30% of the total approved amount is attributed as climate finance, of which almost 4 million USD is dedicated to adaptation.

Democratic Congo

African Development Bank Group

Africa Sub-Saharan Africa

Printing and Publishing Construction Energy-Power and Electrical Computer Hardwares and Consumables

30.11.2022

Original Url