Mozambique - Financial Sector Technical Assistance Project

Page 1 PROJECT INFORMATION DOCUMENT (PID) CONCEPT STAGE Report No.: AB293 Project Name Financial Sector Technical Assistance Region AFRICA Sector General finance sector (100%) Project ID P086169 Borrower(s) GOVERNMENT OF MOZAMBIQUE Implementing Agency Central Bank of Mozambique Environment Category [ ] A [ ] B [X] C [ ] FI [ ] TBD (to be determined) Safeguard Classification [ ] S 1 [ ] S 2 [ ] S 3 [ ] S F [ ] TBD (to be determined) Date PID Prepared September 9 2003 Estimated Date of Appraisal Authorization January 13, 2004 Estimated Date of Board Approval July 22, 2004 1. Key development issues and rationale for Bank involvement During the past decade, Mozambique experienced significant economic growth and development, as well as substantial deepening of the financial sector. The challenge for Government is to maintain this growth and channel its benefits to the poor. Development of the financial system has a vital role to play in establishing a more broad-based foundation for economic growth. A strong and reliable banking system is needed to bolster confidence in public financial management