“If you have something to say, say it here on cameroonwebnews”

Cameroonwebnews| Site d’information et d’opinions sur l’actualité du Cameroun

Actualités, Opinions, Blogs et Videos sur le Cameroun

“Si vous avez quelque chose à dire, dites le sur cameroonwebnews”

World Bank to Finance SMEs in Cameroon

Posted by Admin on Nov 12th, 2009 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Godlove BAINKONG| 12/11/2009 | Cameroon Tribune|

A delegation of the International Finance Corporation was received in audience yesterday by MINEPAT.

A World Bank Group, “International Finance Corporation” (IFC) is currently finalising preparations in Cameroon in view of setting up a bank to finance small and medium-sized enterprises in the country. A delegation of the IFC was received in audience yesterday by the Minister of the Economy, Planning and Regional Development (MINEPAT), Louis Paul Motaze during which members presented the project to the government.

Speaking to the press after the audience, the leader of the delegation, Nina Shapiro, Vice president of Finance and Treasury at the IFC said IFC is launching a CFA bank in the CEMAC zone destined for exchanges in Douala and Libreville. “This has been a three-year effort with the support of the government of Cameroon and other governments in the zone”, she said, adding that IFC is one of the top credits in the world. “We are entering this market to create credits for the market and to encourage standards in the market so that local SMEs can have these loans for medium and long terms”. According to the Director of IFC for Central and West Africa, Yolande Duhem, the project would assure the availability of CFA francs in the CEMAC sub region for the financing of SMEs by providing long term financing. She said IFC is working in synergy with ECOBANK and BICEC to channel the funds to their SMEs companies.

Yesterday’s audience with Mr. Louis Paul Motaze followed a contract signed on Tuesday between IFC and ECOBANK Cameroon amounting to 8 million dollars (about FCFA 3.6 billion). The amount, according to the signatories would allow for the Pan-African bank to augment its financing in favour of small and medium-sized enterprises in Cameroon.

Related posts:

  1. Initiative pour le financement du commerce BAD (Banque Africaine de Developpement) – 10/13/09- The financial crisis,...
  2. Junior World Cup : 21 Lions to Defend Cameroon in Egypt Alain Wabo published the final list last Saturday September 19....

Related posts brought to you by Yet Another Related Posts Plugin.

Comments are closed