Finance

Covid-19: Niger’s govt sets $250mln credit line to support affected businesses

Covid-19: Niger’s govt sets $250mln credit line to support affected businesses
Tuesday, 19 May 2020 15:14

The government of Niger has initiated a financing mechanism to give a helping hand to businesses affected by the coronavirus pandemic. According to authorities, the strategy is based on two lines: one for SMEs (CFA50 billion) and the second for large companies (CFA100 billion), for a total amount of CFA150 billion ($249.6 million).

“The government will make available to banks CFA25 billion in the form of a non-interest-bearing cash deposit guarantee for SMEs. In return, the banks undertake to inject CFA50 billion in the form of credit in favor of SMEs with annual turnover between CFA25 million and CFA1 billion,” according to an official statement.

For large enterprises, CFA25 billion will also be placed by the State with the banks in the form of a non-interest-bearing deposit to serve as a guarantee. The banks for their part undertake, this time, to grant CFA100 billion in credit to large companies whose annual turnover is higher than one billion CFA.

According to the government, a framework agreement will be signed between the state and the Association of Professionals of Banks and Financial Institutions of Niger (APBEF-N), within this framework.

On the same topic
Highlights: • New 1% US tax on outbound remittances to take effect January 1, 2026• Africa received $100 billion in remittances in 2023, outpacing...
23% of adults in Sub-Saharan Africa saved money using mobile accounts in 2024, well above the 9% average in low- and middle-income...
• Zambia launches the Growth Investment Partners Zambia (GIP) initiative to raise over $300 million for SMEs.• The program aims to support 150 SMEs...
• Treasury secures CFA364 billion in oversubscribed bond issuance• S&P cuts Senegal’s rating to B- after discovery of hidden debt• Over CFA1,260 billion...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...

Flutterwave Gains Senegal License, Eyes Growth in $1.5T African Payments Market
03

In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...

West Africa has tools to build strong industry, says IFC’s Olivier Buyoya
04

 President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...

Cameroon: Paul Biya Officially Enters Presidential Race for Eighth Term
05

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.