Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

Côte d’Ivoire: A $3.2 million guarantee agreement has been signed by Coris International and African solidarity fund

Wednesday, 07 February 2018 18:17

(Ecofin Agency) - Coris Bank international has signed, on behalf of its subsidiary in Côte d’Ivoire, a guarantee agreement worth CFA1.72 billion ($3.2 million) with African solidarity fund (FSA). This initiative enables the bank to finance the creation and exploitation of a quarry in the country.   

According to FSA’s commitments, the guarantee will supersede the borrower when the latter fails to pay back the loan, but only up to a previously agreed percentage.

As for Coris Bank Côte d’Ivoire, this is an opportunity to increase the portfolio of its loan in the economy, while minimizing pressure on its fundamentals and comply with the standards to be followed by WAEMU’s commercial banks as far as risks taking are concerned.

Official data on the bank’s  activities in 2017 are not yet available but, in terms of guarantee,  the fund has granted nearly CFA29 billion in 2016, supporting the financing of 28 projects by various banks in the region.

Chamberline Moko





 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.