Sierra Leone Financial Inclusion Project

The development objective of Financial Inclusion Project for Sierra Leone is to increase the interoperability of digital payments and access to financial services. This project has three compponents.1) The first component, Enhancing Interoperability of Digital Payments, will help enable the institutions provide new financial services and have more income generating services to be more viable entities. 2) The second component, Ensuring the Viability of the Payments System through Increasing Usage, would seek to help increase the usage and viability of the retail payment switch and pre-existing payments system. It has the following three sub components: (i) Supporting Linkages to the Payments system; (ii) Supporting rural connectivity and Linkages to the Payments System; and (iii) Overcoming Regulatory and Cybersecurity Hurdles to the Viability of the Payments System. 3) The third component, Project Implementation Support, aims to facilitate the successful implementation of the project through putting in place the institutional framework required, and facilitate private sector involvement in the project through the creation of a private sector committee.