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Access to finance for SMEs: Côte d'Ivoire signs agreement with IFC

12/10/2021
Categories: Companies

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In a statement published on Friday 08 October 2021, the Ivorian authorities announced the signing of a partnership agreement with the International Finance Corporation (IFC). This agreement aims to help SMEs easily access finance.

 

Ocune d'Ivoire has just signed a partnership agreement with the International Finance Corporation (IFC), a private sector arm of the World Bank Group, to improve financing for small and medium-sized enterprises (SMEs). According to the IFC, Côte d'Ivoire is among the top 10 African countries in rental leasing markets in terms of economic potential. Already in 2015, the State signed an agreement with the institution to capitalize on this potential to improve access to finance for SMEs. The agreement aims to implement the Afrileasing programme. It will lay the necessary foundations to develop a viable leasing market in Africa, in particular through the strengthening of the legal and regulatory arsenal governing the field, while introducing tools and best practices necessary to better develop the sector. Through the new agreement, the Ivorian authorities hope to offer financing solutions to economic agents with low financial capacity, allowing financing without an initial contribution.

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