The Board of Directors of the International Finance Corporation (IFC) will be held on December 27, 2024. The branch of the World Bank dedicated to financing the private sector in emerging countries, will be looking at a substantial loan to Afriland

The loan that will be granted to Afriland First Bank can reach 60 million dollars (37.5 billion FCFA). The objective of the SFI is to support the development of small and medium-sized enterprises (SMEs) in Cameroon, which according to the Cameroonian authorities, represent more than 99% of the national economic fabric. In reality, the project consists of an unsecured senior loan with a term of up to five years, with a grace period of up to 12 months. This project is part of the SFI's approach to promote the empowerment of women and give them more economic opportunities. The financing should enable Afriland First Bank to improve its ability to provide long-term loans to SMEs in Cameroon. A significant portion of the funds, at least 25%, will be intended for businesses run by women entrepreneurs, a sector that is still marginal in the Cameroonian economy

The project could also benefit from a collective first-loss guarantee of a maximum amount of 3 million dollars, provided by the International Development Association (IDA), the World Bank institution dedicated to countries & agrave; low income) through its funding window for the private sector