(Ecofin Agency) - Proparco recently granted a €10 million loan to Société nigérienne de banque (Sonibank) to help it develop its credit activities. This was revealed by Proparco in a release published on March 27, 2019.

This loan "demonstrates Proparco’s commitment to the private sector, SMEs notably, in weak countries," the release indicated.

It will notably help the bank develop its middle and long-term financing offers to SMEs and create new products to meet those firms’ specific needs.

This loan falls within the framework of Proparco’s indication that it would commit €1 billion to support the private sector in weak countries in 2017-2020 and the "Choose Africa” initiative launched in March 2019.