The project's main objective is to provide a self-service process based on customer data ownership secured by digitized blockchain to reduce costs related to KYC compliance by 30 – 50%. This solution will support public and private organizations (governments and corporations) in a response to their citizens, customers, and users - especially those from traditionally excluded population segments that have started to have digital channels to express their opinions online – by promoting the adoption of artificial intelligence (AI)- based solutions to transform their feedback into insights. The project also aims to contribute to accelerating governments' and corporations' digital transformation towards more responsive organizations under the context of greater citizen engagement.

Project Detail

Country

Regional

Project Number

RG-L1150

Approval Date

May 12, 2021

Project Status

Closed

Project Type

Loan Operation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MARKET DEVELOPMENT AND FUNCTIONING

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 4,005,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 900,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
5277/MS-RG Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 5277/MS-RG
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: MIF Financing