Mobile Money as a Mechanism to Increase Financial Inclusion in Guyana

The project will develop a mobile savings product for money transfer clients that will be scaled up through the expansion of Mobile Money Guyana¿s network of points of sale in underserved areas, and will be accompanied by financial education interventions to promote savings accumulation.

Project Detail

Country

Guyana

Project Number

GY-M1024

Approval Date

July 1, 2015

Project Status

Closed

Project Type

Technical Cooperation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

Facility Type

Environmental and Social Impact Category (ESIC)

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

Total Cost

USD 1,096,329.00

Country Counterpart Financing

USD 544,943.00

Original Amount Approved

USD 551,386.00