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Financial cooperation: IFC strengthens its partnership with Banque de Crédit de Bujumbura

03/10/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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The International Finance Corporation (IFC) announced on Friday, September 27, 2024, that it had set up a risk-sharing mechanism worth an amount equivalent to $10 million, in favor of the Banque de Crédit de Bujumbura (BCB).

The risk-sharing mechanism set up by the IFC will allow it to guarantee 50% of a portfolio of short-term loans granted by the BCB to small and medium-sized enterprises (SMEs) in Burundi. The Banque de Crédit de Bujumbura (BCB) will use this mechanism to help import-export SMEs, operating in key sectors such as agriculture, health, climate, education, to access the financing they need. At least 150 loans will be allocated to these SMEs by 2028. This guarantee agreement reinforces the partnership between the SFI and the BCB. It should be noted that in March 2024, the two institutions signed a $20 million loan agreement, aimed at increasing BCB's loan portfolio for SMEs

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