(Ecofin Agency) - • The African Solidarity Fund has provided CFA225 billion ($390 million) in guarantees to support Niger’s development
• Targeted sectors include education, energy, agro-industry, and economic infrastructure
• These guarantees have helped mobilize CFA421 billion for the national economy since 1979

Since beginning operations in 1979, the Niamey-based African Solidarity Fund (FSA) has pledged financial guarantees totaling CFA225 billion ($390 million) to Niger, facilitating the mobilization of more than CFA421 billion for the country’s economic and social development, the institution announced.

By the close of 2023, the fund had approved guarantees totaling CFA139.2 billion for Niger, representing 5.9% of all guarantees issued by the institution to its member states since its inception. It provided guarantees worth CFA27 billion in 2023 alone, accounting for 3.24% of total guarantees allocated to member states that year. This marked an increase from CFA23.3 billion (3.14%) in 2022 and CFA8.5 billion (6.55%) in 2021.

The interventions have focused on key sectors such as education, energy, agro-industry, and economic infrastructure. Notable achievements include a CFA10 billion guarantee extended to Niger’s National Strategy for Inclusive Finance, aimed at boosting the capacity of microfinance institutions.

The FSA has also supported Sonibank and other local businesses to reinforce entrepreneurship and private sector growth. More recently, the fund partnered with Niger’s Deposit and Investment Fund to facilitate public-private project financing and improve SME access to credit through tailored financial instruments. It also supported efforts to strengthen local human capital.

According to the FSA, these interventions have significantly reinforced funding for Niger’s economy, which has demonstrated resilience despite liquidity pressures and regional sanctions following the 2023 coup d’état. As part of its broader recovery efforts, the country aims to enhance oil production to stimulate economic growth.