$14m for SMEs in the WAEMU

Apr 20, 2011

The Centre for Development and Enterprise (CDE) gave $14 million (€9.64 million) to strengthen the competitiveness of small to medium-sized enterprises (SMEs) inside the West African Economic and Monetary Union.

A scheme aimed at strengthening the competitiveness of small to medium-sized enterprises (SMEs) inside the West African Economic and Monetary Union (WAEMU) has received $14 million (€9.64 million) from the Centre for Development and Enterprise (CDE).

Spread over a three-year period, the programme has been designed to help SMEs be more competitive and increase the performances of institutions supporting these companies in order to strengthen the economic health of countries inside the union, APA news agency reports.

Companies working in the agro alimentary, energy, ICT and ecotourism sector will have priority, the CDE said.

Last month, a conference held by the association of professionals of banks and financial institutions in Mali discussed the problem of financing SMEs in Mali and the rest of the WAEMU.

The association's President Moussa Allassane Diallo outlined the factors that, according to him, guarantee the viability of any policy to boost lending, Reussir Business reports.

It includes a better fiscal, juridical and institutional environment, the technical support and the training of promoters and the adaptation of product and banking services to SME's needs.