Sierra Leone Second Financial Inclusion Project

active

The objective of the project is to increase the financial inclusion and resilience of individuals and micro, small and medium sized enterprises (MSMEs) and provide support to respond to eligible emergency events. For the purposes of this project, this would be achieved by expanding the adoption and usage of transactional accounts, digital financial services, and access to finance for individuals and MSMEs using services provided by sound financial institutions. Resilience means the ability of individuals and MSMEs to respond to unanticipated economic, financial or climate related shocks. Eligible emergency events are those specified in the CERC Component. This project has four components: 1) The first component is Adoption and usage of transaction accounts will help adoption and usage of transaction accounts; 2) The second component is increasing access to credit for MSMEs will help to facilitate sustainable access to credit for MSMEs, in particular women-led businesses; 3) The third component is project management, monitoring and evaluation,(i) Government and other actors capacity strengthening for the coordination, design, and implementation; (ii) the administrative, technical, and financial management of the project by Project Implementation Unit (PIU) under the oversight of Project Steering Committee; (iii) the coordination among all institutional partners to ensure the efficient flow of information among all actors and coordination with the private sector; (iv) the establishment of monitoring and evaluation mechanism of the project’s results and impact; (v) the development of communication activities to publicize and disseminate project results, best practices, and success stories; and 4) The fourth component, Contingent Emergency Response Component will help rapid reallocation of loan proceeds from other project components during an emergency.