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Project

BEAC Regional Payment System Project in Central Africa

General Information

Project Summary

This main objective of the BEAC Regional Payment System in Central Africa is to improve the efficiency and security of payments in the Central African Economic and Monetary Union (CAEMU, the members of which are Cameroon, Chad, Central African Republic, Republic of Congo, Gabon, Equatorial Guinea) by supporting the implementation of a state-of-the-art payment system through institutional capacity building. The project includes seven components: (1) A project management support component; (2) A real time settlement system; (3) A low-value electronic clearing and settlement system; (4) An inter-bank card system; (5) A pilot scheme for e-money; (6) A common telecommunication and computer infrastructure; (7) A risk management system for securing payment transactions in order to better manage customer credit and fraud. The total cost of the project is US$ 20 million, with BEAC contributing US$ 9 million and the World Bank IDA financing US$ 11 million through a Technical Assistance Loan (TAL).

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