(Ecofin Agency) - The Ivorian government has announced the creation of the Small and Medium Enterprises Guarantee Fund to facilitate access to bank financing for SMEs. This was highlighted in the communiqué of the Council of Ministers held on Wednesday, January 8, 2020.

According to the Ivorian authorities, the creation of this fund is intended to guarantee credits granted by banking establishments to national SMEs whose capital is more than 50% owned by Ivorians. It is also designed to provide a guarantee for signature commitments made by banks to Ivorian SMEs.

Let’s note this initiative comes after the dissolution of the New Guarantee Fund for Loans to Ivorian Enterprises (NFGCEI).

André Chadrak