Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

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

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

(Ecofin Agency) - 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.





 
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.