The Burundian government via the east African country's Central Bank (BRB) and the International Finance Corporation (IFC) on Feb. 7 signed a cooperation agreement whereby the BRB appointed IFC to provide "specific advisory" services to support the Burundi market in developing an appropriate credit reporting system, a press release from the IFC said Monday.

During the signing ceremony that took place at the Burundi Central Bank (BRB), Burundi was represented by BRB Governor Jean Ciza and David Crush who is the Access to Finance Business Line Manager in Sub-Saharan Africa represented the International Finance Corporation (IFC).

According to the press release, it will include the development of a new legal framework, capacity building for the BRB, and development of credit reporting infrastructure, identification and implementation of suitable technology requirements, and putting in place processes for effective supervision of the credit information sharing system.