São Tomé and Principe - Payments System Infrastructure and Financial Inclusion Project — São Tomé and Príncipe

Overview

The Payment System and Financial Inclusion Infrastructure Project (PISPIF) aims to make the financial sector more competitive and expand financial inclusion, through the internationalization of the payment system, securing loans and improving the strategic framework and electronic payment instruments in Sao Tome and Principe. The country will benefit from a fully interoperable card system, linked to international networks to enable the use of Visa and MasterCard. This project will also support institutional capacity building, supporting the restructuring and strengthening of the Central Bank; a service dedicated to the control and supervision of the payment system will also be created, with the support of the "First" initiative of the World Bank. The total cost is estimated at 64.7 billion Sao Tome Dobru, equivalent to US $ 2.87 million. Climate finance is not attributed to this project.