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Financing SMEs: IFC approves a loan of 4.9 million USD

10/05/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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The quarterly report on credit costs in CEMAC published by the Bank of Central African States (BEAC) mentioned that SMEs represent more than 99% of the Cameroonian economic fabric, but only captured 22% of credit supply in the 3rd quarter of 2022.

The Board of Directors of the International Finance Corporation (IFC) approved a loan of 4.9 million USD (approximately 2.9 billion FCFA) to La Régionale Bank. Sources close to the matter announce that the funding agreement will be officially signed by the 2 parties in the coming weeks. Noted that IFC is the branch of the World Bank in charge of the private sector

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Cette enveloppe permettre à The Régionale Bank to expand its credit portfolio to local SMEs operating in agriculture, crafts, trade, personal services, etc. This financing is granted under the Covid facility SFI's Base of Pyramid, set up to help financial service providers provide loans to small and/or informal businesses and low-income households. It aims to support economic growth, job creation and a resilient recovery from the pandemic

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