Islamic Corporation for the development of the Private Sector (ICD) will disburse $30 million as part of its contribution in the funding scheme to support SMEs and SMIs in WAEMU. This commitment is a product of memorandum of understanding signed last January 18 in Jeddah by Islamic Development Bank (IDB) and the Central Bank of West African States (BCEAO).

ICD also committed to raising its contribution in the project to $100 million depending on interest expressed by investors and/or potential partners.

BCEAO is in charge of monitoring and implementing the project which has been green-lit in September 2015 by the board of ministries of the various member-states of the Union.