The Central Bank of West African States (BCEAO) has taken a series of measures to mitigate
the impact of the Covid-19 pandemic on the banking system and the financing of economic activity in
west African Monetary Union (WAMU). As a follow-up, the following measures are taken
specifically for microfinance institutions (MFIs).
1. MFIs are allowed to grant to their clients affected by the effects of the pandemic and who request it,
a postponement of maturities on their loans, for a period of 3 months renewable once, without charge
interest, no fees, no late payment penalty. In return, receivables whose maturities will be the subject of
carry-over must be classified in a specific sub-account in the category of loans tied up on the duration of the postponement. Information on claims whose maturities have been postponed should
be communicated to the Ministerial Monitoring Structures (SMS).
2. MFIs referred to in Article 44 of the Law on the Regulation of Decentralized Financial Systems having
Carrying out deadlines must also transmit to the Central Bank the information y
relative, from the canvas made available to them on the space dedicated to the Covid-19 Device on the site
BCEAO internet, at [email protected].
3. The BCEAO will assess, in relation to the General Secretariat of the WAMU Banking Commission and
SMS, the implications of these measures on the accounting and prudential situation of MFIs and will take, in
as needed, appropriate decisions.
4. Assistance granted by credit institutions to MFIs shall be eligible for the provisions of The Opinion
n°OO5-04-2020 relating to the postponement of maturities of the claims of credit institutions affected by the
Covid-19 pandemic. MFIs that wish to do so are therefore invited to get closer to their
banking partners to benefit from the measure of postponement of maturities of their commitments.
5. In accordance with the provisions of the Decision of the Monetary Policy Committee No. 06'I-03-2011 of 2
March 2011, bank loans granted to microfinance institutions referred to in Article 44 of the Law
the above are eligible in support of the BCEAO's refinancing. Exceptionally, to increase
liquidity for the microfinance sector, the special window for refinancing the effects on
Small and Medium Enterprises (SMEs) is extended to bank claims held on these MFIs.
For the implementation of this measure, credit institutions will rely on the list of DFSs
eligible, available from the National Directorates of the BCEAO.