A press release announces that Proparco has granted Acep Senegal a senior credit line of 6.5 billion CFA francs (equivalent to €10 million). This will stimulate the growth of the microfinance institution's lending activity to micro-farmers or micro-entrepreneurs present throughout the local agri-food value chain

The credit line granted to Acep Senegal aims to primarily support SMEs owned or managed by women. According to the press release, “the senior loan of 6.5 billion CFA francs (10 million €), which Proparco has just granted to the Union des Mutuelles Alliances de Crédit et d'Épargne pour la Production Sénégal (Acep Sn), a major microfinance player in Senegal, will in particular contribute to meeting two key development challenges for Senegal: food sovereignty and reduction gender inequalities.” In concrete terms, the Proparco credit line will allow Acep to create nearly 7,500 jobs and support nearly 2,300 SMEs, at least half of which are in the agricultural sector.