Ghana - Institutional Support Project: Enhancing Regional Financial Integration in West Africa

The Institutional Support Project: Enhancing Regional Financial Integration in West Africa is designed as upstream strengthen the policy, institutional, and operational framework for international financial services in West Africa and build capacity in the region’s financial system. The Fund will channel its support to the Government of Ghana and the West African Monetary Institute (WAMI), which are key to implementing the project. The project will facilitate dialogue among WAMI member countries on integrating the region financially. It will address gaps in regulatory frameworks, gaps in the institutional and technical spheres, and deficiencies at the national and regional levels, all of which affect West Africa’s financial system. The project has four (4) components, namely: (i) create an environment conducive to establishing an IFSC in West Africa, among other things by harmonizing policy and making regulation; (ii) establish a regional financial center authority (RFCA); (iii) build the capacity of the IFSC’s secretariat to deliver financial services; and (iv) support project management and coordination.