IFC launches new leasing development programme in Mali

Jul 25, 2011

A new financing mechanism to help small and medium-sized enterprises access funds in Sub-Saharan Africa was unveiled on Thursday July 21st in Mali.

A new financing mechanism to help small and medium-sized enterprises (SMEs) access funds in Sub-Saharan Africa was unveiled on Thursday July 21st in Mali, APA news agency reports.

Engineered by the International Finance Corporation (IFC), in partnership with the African Development Bank and several western countries, the Africa Leasing Facility's main objective is to support and promote the development of leasing in the
region.

According to an IFC official quoted by APA, leasing has the potential to considerably increase the capacity of SMEs to finance new equipment.

The African Leasing Association and the IFC have been working for many years on the development of this financial product in order to strengthen the competitiveness of African economies.

The
IFC focuses on the improvement of the fiscal and legal environment of leasing, as well as educating SMEs and the public, developing new products and working on new legislation and tax systems to attract investors, Les Afriques newspaper reports.ADNFCR-2976-ID-800632240-ADNFCR