World Bank Approves $25M Loan to Support Mozambique’s Financial Sector Development
Tuesday, October 6, 2015
The Board of Executive Directors of the World Bank has approved a loan of 25 million US dollars to support the Mozambican government's financial sector development strategy.
A World Bank press release describes the strategy as “aimed at promoting greater financial inclusion and market stability”.
The loan, approved by the Board on Tuesday, is the second credit channeled through the World Bank Programmatic Financial Sector Development Policy Operation (DPO).
The release says this operation “seeks to reinforce financial stability by supporting improvements in the banking supervision and regulations, safety net, and crisis preparedness frameworks. The operation also supports reforms to promote financial inclusion focused on credit reporting systems, branchless banking and mobile banking, consumer protection, payment systems and insolvency frameworks”.