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Tender

EAC Financial Sector Development and Regionalization Project I (EAC-FSDRP I) in Africa: General Procurement Notice

General Information

Opportunity Type:
Goods, Works, Services

Project Summary

Following the signature and ratification of the Common Market Protocol, the East African Community (EAC) Secretariat has received Grants from the International Development Association (IDA) in the amount of USD 16 millions for financing the EAC Financial Sector Development and Regionalization Project I (EAC - FSDRPI, 2011-2014) to support the development of the financial sector through the establishment of a single market in financial services among EAC Partner States.

Project description

Component 1 – Financial Inclusion and Strengthening Market Participants

  • To leverage the establishment of a single market and the benefits of scale associated with regionalization to make a broader range of formal financial services/products available to a more diversified client profile, including those that are currently unserved.

    Component 2 – Harmonization of Financial Laws and Regulations
  • To move towards legal and regulatory harmonization in banking and accounting, securities markets, insurance, pensions, investment funds critical to achieve an effective functioning of a single market in financial services via EAC Acts.

    Component 3 – Mutual Recognition of Supervisory Agencies
  • To support establishment of a system in which a financial institution or market intermediary licensed by the supervisory authority in one Partner State will be allowed to operate in all Partner States upon simple notification to the supervisory authority of the host State.

    Component 4 – Integration of Financial Market Infrastructure
  • To support establishment of an efficient market infrastructure, compatible at the regional level.

    Component 5 – Development of the Regional Bond Market
  • To support the development of the government bond market in each Partner States, to ensure bond issuers in individual EAC Partner States having access to a deeper pool of liquidity in a single market.

 

This is a General Procurement Notice and specific procurement notices will be announced as they become available.

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