IBAC and USAID enter partnership to support SMEs
The United States Agency for International Development and the International Bank for Africa in Congo signed a partnership agreement in Kinshasa on Friday.It aims at encouraging credit to small to medium-sized enterprises (SMEs) in the agricultural sector, which often do not have easy access to finance.
USAID will bring financial support and IBAC will facilitate the flow of capital to SMEs in the agro-industry sector in the Democratic Republic of Congo, Le Potentiel newspaper reports.
According to IBAC's Chief Executive Officer Charles Sanlaville, quoted by Les Dépêches de Brazzaville newspaper, SMEs struggle to access credit because of their fragility, the lack of guarantee and the absence of specific structures adapted to their needs.
USAID and IBAC want to target these issues and boost the financing of investments by contributing to reduce the credit risk in the agricultural sector.