Cooperation in the Commonwealth of Independent States
Payments and Securities Settlement Initiative

The project named Commonwealth of Independent States Payments and Securities Settlement Initiative (CISPI) tries to replicate a successful experience in the payments system area in the LAC Region in which partnership between a regional (CEMLA) and an international organization (The World Bank), a cooperative approach with other international organizations and institutions with a high level of expertise in the area, country ownership and a high level mandate are the key factors for the success.

The Western Hemisphere Payments and Securities Clearance and Settlement Initiative (WHI) is an example of a Regional Initiative that has created momentum for strengthening payments and securities settlement systems in LAC. It has a number of features that can easily be adopted for other regions or other areas of the financial sector.

Thus, the World Bank intends to engage regional and international authorities to work together to adapt the model to the needs of the Region and work together towards the achievement of a set of common objectives.