The BOAD invests €1.5 million in the microfinance institution Asusu SA in Niger

May 17, 2013

The West African Development Bank (BOAD) has signed an Fcfa1 billion (€ 1.5 million) financing agreement with the Microfinance institution Asusu SA.

The West African Development Bank (BOAD) has signed an Fcfa1 billion (€ 1.5 million) financing agreement with the Microfinance institution Asusu SA.

This amount will be made available to Asusu to enable the refinancing of loans granted to customers, particularly in the agro-industry field.


Through this agreement, the BOAD provides support to low-income populations with little or no access to credit and "confirms its determination to have a stronger presence in the microfinance sector, which continues to face difficulties in the sub-region and whose importance to the economy is well established", according to a BOAD statement.

Asusu SA will thus be able to develop financial products in areas with high agricultural potential, such as crop, inputs and equipment loans – but also finance activities in the agro-industry field and increase funding of income-generating activities, focusing on women and micro-entrepreneurs projects.

This funding follows the acquisition of a Fcfa360 million stake in Asusu's capital by the African Solidarity Fund last February.ADNFCR-2976-ID-801586232-ADNFCR