Ethiopia - Capacity building for financial inclusion in Ethiopia (M-BIRR Mobile Money)

The project is anchored with Pillar I of the Bank’s new Financial Sector Development Strategy. This pillar aims at increasing access to financial services to the underserved through technology. The project is also in line with the Bank’s operational focus on financial intermediation and microfinance as well as supporting MSMEs. The project aims to advance financial inclusion and improve the efficiency of the participating five Ethiopian MFIs in Ethiopia with the launch of a shared mobile money platform (M-Birr Mobile Money Service), and the development of an agent network that will expand the reach of the MFIs and formal financial services in general in Ethiopia. It will increase the proportion of poor households and small businesses with access to formal financial services. It will also deepen the financial sector infrastructure and promote the 5MFIs inclusive microfinance model that works for the poor. The total FAPA grant proposed to cover up the launch of the M-Birr Mobile Money Service is for USD 318,000.