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International trade sector: Afriland First Bank and Proparco sign an agreement

11/07/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Dans le but d' accentuer son soutien au commerce international, l' Afriland First Bank (AFB) has an important agreement with Proparco to renew and increase its trade finance guarantee line.

The agreement signed with AFB should revolutionize trade in Cameroon, as well as give more impetus to the local economy. According to Deputy Director General of AFB, Youssoufa Bouba, “this partnership is part of a dynamic of multiplication and expansion of assistance and facilities for Cameroonian companies, in particular SMEs, in their international trade activities.” This agreement increases from 15 to 20 million euros, or 13 billion CFA francs. This 33% increase testifies to the mutual trust between Afriland First Bank and Proparco, but also to their common desire to support the Cameroonian economy. Cameroonian SMEs are the big winners of

this agreement.

The main objective of this new partnership is to support Cameroonian SMEs in their international trade activities. By facilitating access to financing and guarantees, Afriland First Bank and Proparco thus hope to stimulate the diversification

of the Cameroonian economic fabric.

Il faut noter que Proparco est filiale de l'Agence française de développement ( AFD) ), and works in financing and supporting companies and banking institutions in Africa, Latin America, but also in the Middle East. This limited company dedicated to the private sector has been active for 45 years in the promotion and sustainable development in economic, social and environmental matters.

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