Cambodia's openness to trade and financial flows has fueled one of the fastest credit growth episodes in Asia.A remarkable expansion in formal microfinance lenders contributed to increased access to credit.
... Exibir mais + Since the promulgation of the National Strategy for Microfinance in 2007, Cambodia’s microfinance sector has expanded rapidly, with both assets and credit growing at annualized rates of over 40 percent. While access to credit has helped ease financial constraints for households, one key concern is how the cost of credit and increased exposure to risk might affect household welfare. At the household level, low financial literacy could result in poor borrowing decisions and heighten risks. There are concerns that households may be over-borrowing and increasing their exposure to risks, as there are signs that the market is already highly saturated, given estimated absorption capacity at this level of development. This policy note assesses the impact of access to credit on household welfare in Cambodia and providesevidence on the drivers of the cost of credit in the microfinances sector. To fill the existing knowledge gaps, this policy note uses the latest available data from official sources to provide evidence on (i) the impact of microcredit on household welfare, (ii) profitability and cost of credit in the microfinance sector, and (iii) the effects of the interest rate cap in the sector. This note ultimately presents a series of policy options aimed at facilitating affordability and reducing the cost of credit, while maintaining sector profitability and minimizing risks (both for households and the financial system). The policy options have been developed in consultation with sector stakeholders.
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The development objective of Development Finance Project for Nigeria is to increase the availability and access to finance for micro, small, and medium enterprises through eligible financial intermediaries with the support of a new wholesale development finance institution.
... Exibir mais + This restructuring will require amendments to the following project documents: i) amendment to loan agreement; and ii) amendment to disbursement letter.
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The development objective of the Housing Finance Development Program Project for Nigeria is to increase access to housing finance by deepening primary and secondary mortgage markets in the Federal Republic of Nigeria.
... Exibir mais + The restructuring will: (i) express the targets of the disbursement linked indicators (DLIs) in Naira, using the historical exchange rate (at the time of project approval) ensuring objective adjustment of targets to reflect the market conditions resulting from exogenous factors beyond the control of the project; (ii) adjust the amount of the DLIs for tranches III, IV, and V; (iii) the original credit was committed in special drawing rights (SDR), the restructuring will make this correction as well, by transforming the maximum amount allocated to SDR; and (iv) amendment to the disbursement letter for category 1 expenditures.
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The report analyzes the status of the Nigerian Microfinance Banks (MFBs) sector and aims to identify and address the challenges of its effective regulation and supervision.
... Exibir mais + Ensuring the financial soundness of the MFB sector is regarded as a prerequisite for its further development. This report was prepared at the request of Other Financial Institutions Supervision Department (OFISD) of the Central Bank of Nigeria (CBN) to inform OFISD's efforts to develop a strategy for regulation of the MFB sector with emphasis on its consolidation. The report does not attempt to address in depth other systemic issues related to microfinance market development, such as funding constraints or gaps in financial infrastructure. While important these factors are secondary to the report’s central focus on reforming and recalibrating the regulatory framework and ensuring effective supervision, which is regarded as necessary precursors to the growth of the sector. Only once these regulatory and supervisory reforms are implemented will the MFB sector be better positioned to start to make a more significant and sustainable contribution to financial inclusion. The findings of the report are complemented with fifteen case-studies based on a representative sample of different MFB business models and origins, drawing lessons regarding the challenges faced by the sector about factors such as their business model, governance, funding, and client base. The Microfinance Policy, Regulatory and Supervisory Framework for Nigeria of 2005 established MFBs as a means of formalizing microfinance institutions (MFIs) in order to promote financial discipline and sustainability, while also providing access to financial services to the unbanked population. The framework was designed to attract new capital as well as to regularize Community Banks (CBs), which had been established since the early 1990s, mainly as conduits for directed lending. Licensed by the CBN, MFBs are allowed to solicit deposits, which are guaranteed by the Nigeria Deposit Insurance Corporation (NDIC).
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Documento de Trabalho 134708 DEC 01, 2017
Popovic,Andrej; Steel,William F.; Fuchs,Michael J.; Mark George,OlugbolahanDisclosed
The development objective of the Development Finance Project for Nigeria is to increase the availability and access to finance for micro, small, and medium enterprises (MSMEs) through eligible financial intermediaries with the support of a new wholesale development finance institution.
... Exibir mais + Some of the negative impacts and mitigation measures include: (i) activities involving the risk of work performed by children;(ii) activities involving land acquisition and or restrictions on land use resulting in involuntary resettlement or economic displacement; (iii) industrial-scale activities in or near critical habitats; (iv) industrial-scale activities involving production,harvesting, or trade in wood or other forestry products from plantation and natural forests or wild fish and other aquatic species; (v) industrial-scale production trade, storage, or transport of significant volumes of hazardous chemicals or commercial scale usage of hazardous chemicals; (vi) production or activities that have adverse impacts, including relocation, on the lands, natural resources, or critical cultural heritage that are used as livelihoods by vulnerable and or historically underserved traditional local communities; and (vii) activities involving significant adverse impacts on critical cultural heritage.
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The objective of the Diagnostic Review of Financial Consumer Protection in Nigeria is to assess the legal, regulatory, and institutional framework, industry practices and related new initiatives for Financial Consumer Protection (FCP) applicable to the banking, non-bank financial institution (NBFI) and payment sectors and develop prioritized and tailored recommendations aimed at supporting the Central Bank of Nigeria (CBN) in enhancing the FCP framework and its implementation.
... Exibir mais + The assessment is conducted based on the revised and enhanced World Bank Good Practices for Financial Consumer Protection and covers five topics in each of the above-mentioned sectors: i) legal, regulatory, and supervisory framework; ii) disclosure and sales practices; iii) fair treatment and business conduct; iv) data privacy; and v) dispute resolution mechanisms.
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Documento de Trabalho 125964 JUN 01, 2017
Popovic,Andrej; De Souza Neves Lopes,Ligia; Traversa,Marco; Grady,Rosamund Clare; Melville,Douglas WilliamDisclosed
The objective of the Diagnostic Review of Financial Consumer Protection in Ethiopia is to assess the legal, regulatory, and institutional framework for financial consumer protection (FCP) and develop prioritized and tailored recommendations aimed at supporting the National Bank of Ethiopia (NBE) in developing and operationalizing improvements to that framework.
... Exibir mais + The assessment is conducted under the Ethiopia Financial Inclusion Support Framework (FISF) Program, and based on the revised and enhanced 2017 Edition of the World Bank Good Practices for Financial Consumer Protection with focus on retail products and services in four sectors: i) banks and non-bank financial institutions (NBFIs); ii) payments; and iii) insurance. Further, the review covers five topics in each of the above-mentioned sectors: i) legal, regulatory, and supervisory framework; ii) disclosure and sales practices; iii) fair treatment and business conduct; iv) data privacy; and v) dispute resolution mechanisms. The report reflects the existing legal, regulatory, and institutional framework in Ethiopia, with references to planned reforms that were presented to or discussed with the World Bank team. It also features industry practices identified through interviews with financial services providers, financial regulators, and consumer and industry associations.
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Nigeria has recorded robust growth for more than a decade, and its economy has become more diversified with less reliance on oil, although oil revenue remains a critical source of fiscal revenues and foreign exchange.
... Exibir mais + The recent plunge in oil prices demonstrates how exposed economic growth and the fiscal situation remain to changes in oil prices. Reducing the impact of volatility in oil prices will be important in sustaining growth and thereby reducing the unemployment rate on a sustainable basis, especially among young people. Micro, small, and medium-sized enterprises (MSMEs) have a vital role to play in supporting the further diversification of Nigeria's economy.
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