Togo - Financial Sector and Governance Project

closed

Closed

The development objective of the Financial Sector and Governance Project for Togo is to improve financial sector stability by supporting the Government financial sector reform program. Financial sector restructuring will lead to more efficient resource allocation towards poverty reducing and growth inducing sectors. The project will provide technical assistance to various stakeholders to support the financial sector reform program of the Government of Togo. There are four components to the project. The first component of the project is banking sector restructuring. This component will support the Government's banking restructuring strategy and will provide technical assistance to ensure that the financial and institutional restructuring of three public banks (BTCI, BIA, and UTB) is completed. This will involve identifying strategic banking investors for Togolese state owned banks: Banque Togolaise pour le Commerce et l 'Industrie (BTCI), Banque Internationale pour l 'Afiique (BIA), Union Togolaise de Banque (UTB) as well as Banque Togolaise de Developpement (BTD), which is not under restructuring. The second component of the project is strengthening of microfinance sector. This component will focus on strengthening the stability of the microfinance sector through improved external supervision and strengthened internal controls within microfinance institutions (with a focus on increasing the capacity of network institutions to supervise their member' institutions). The third component of the project is reforming the pension sector. This component will focus on reforming the pension arm of the two social security institutions (Caisse de Retraite du Togo (CRT), and Caisse Nationale de Securite Sociale (CNSS)) to restore their financial viability. The fourth component of the project is support to the implementation of reforms in the financial and private sectors. This component will provide technical assistance to the Reform Secretariat and the Economy Directorate within the Ministry of Economy and Finance to strengthen their capacity to formulate policies in the financial and private sectors. This component will also aim at improving public private sector dialogue.

FY17 - Financial Sector,FY17 - Social Protection

World Bank Group

Project

Commercial, Government