IFC promotes leasing as a financing method for SMEs in Ivory Coast

Aug 01, 2013

The International Finance Corporation (IFC) announced on July 26th the launch of the Africa Leasing Facility program in Ivory Coast, which promotes leasing as an alternative financing method for small and medium-sized enterprises (SMEs).

The International Finance Corporation (IFC) announced on July 26th the launch of the Africa Leasing Facility program in Ivory Coast, which promotes leasing as an alternative financing method for small and medium-sized
enterprises
(SMEs).

So that leasing can effectively play its role as an agent of development in Africa, the program aims
to create
a beneficial legal and tax environment for leasing and promotes the development of new products.

"Leasing is a financing solution that balances the needs of SMEs and financial institutions with safety, reliability and convenience. It will undoubtedly help develop investment operations industries and enterprises, and should also stimulate growth in terms of value creation, employment and wealth," said Minister for the Promotion of SMEs Jean-Louis Billon, quoted by Ecofin news agency.

Leasing is a fixed term tenancy agreement between a company and a financial institution, whereby the lender grants the right to
use a good

for a limited period against regular payments and a purchase option at the end of contract.

It enables a business to conserve its resources to finance its operating cycle, including supplier payment.ADNFCR-2976-ID-801619489-ADNFCR