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The Financial Sector Technical Assistance Project aims to increase access to finance for the currently unbanked, but bankable, population of Malawi. There are five components to the project, the first component being financial sector regulation and supervision. This component will assist the Reserve Bank of Malawi (RBM) to strengthen the national financial sector regulation and supervision framework for banking, capital markets, microfinance, and the insurance and pension industries by financing a combination of reporting, diagnostic, and capacity building technical assistance activities. The second component is the financial infrastructure. The third component is the financial consumer protection and financial literacy. This component will support the Government's efforts to increase public trust in the financial sector by supporting the following activities: (i) strengthening the legal and regulatory framework for financial sector consumer protection; and (ii) enhancing institutional arrangements for consumer protection for all financial services. The fourth component is the Ministry of Finance's financial sector policy and governance capacity and long-term finance. Finally, the fifth component is the implementation support. This component will facilitate the implementation arrangements for the project by supporting the operation of a Project Implementation Unit (PIU) at the RBM which is the responsible implementing agency of the project with support from an oversight committee chaired by the Ministry of Finance (MoF).
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