UNCDF Mobile Money for the Poor
In Least Developed Countries (LDCs) approximately only 14% of the adult population have access to financial services and growth is stagnant whereas around 25% of the population own mobile phones and ownership is growing by 23% annually. Mobile phones can be used by poor people to access financial services and banking. The UNCDF Mobile Money for the Poor will facilitate access to financial services through mobile phone technology bringing those services to a large number of poor people. The role of Mobile Money for the Poor is to help Mobile Network Operators (MNOs), banks and other organisations with information, ideas, incentives and initial investments to provide financially sustainable mobile banking services to low-income clients in developing countries. The Mobile Money for the Poor goal is to provide four million additional individuals and small microenterprises in LDCs with access to one or more branchless financial services by the end of 2017. This will include 1.2 million people that did not previously have a bank account. The total value of this initiative is $1.0 million over 2 years, starting 2011-12.
- Project ID
AU-5-INK547-LR- Activity status
- 3 - Completion
- Aid type
- C01 - Project-type interventions
- % to Liberia
- 100.00
Organisations
- Implementing
- Name Withheld
- Funding
- AUSTRALIA
- Extending
- Australia - Department of Foreign Affairs and Trade
Disbursements by fiscal year, quarter
| Fiscal year |
Fiscal quarter |
Value (USD) |
Liberia Value (USD) |
| 2012 |
Q4 |
108,140.00 |
108,140.00 |
Commitments by fiscal year, quarter
| Fiscal year |
Fiscal quarter |
Value (USD) |
Liberia Value (USD) |
| 2011 |
Q4 |
98,140.00 |
98,140.00 |
MTEF projections by fiscal year
| Fiscal year |
Value (USD) |
Liberia Value (USD) |
| CRS code |
% |
|
Informal/semi-formal financial intermediaries
(24040)
|
100.0
|