Ivory Coast: BOAD opens new credit line for SMEs
It allocated five billion CFA Francs.NGO FIDELIS Finance and the West African Development Bank (BOAD) have signed a refinancing agreement of five billion CFA francs (€1.5 million) to support access to leasing for small and medium-sized enterprises (SMEs) in Ivory Coast.
The BOAD will disburse two billion CFA francs as part of a framework agreement for refinancing and three billion CFA Francs for a line of credit to finance SMEs' activities via leasing.
" Thanks to BOAD, we have cemented our position as a leading leasing company in the UEMOA region gained through fifteen years of financing SMEs' equipment
via leasing. BOAD's actions, with the help of other partners, today allow us to strengthen our implementation strategy across new countries," FIDELIS director Abdoulaye Sory said in a statement.
Last August, Fidelis Finance received a credit line of 1.64 billion CFA francs from the African Development Bank (AfDB).
The Burkinabe leader in leasing decided to expand its activities in West Africa and opened in May 2015 a subsidiary in Abidjan.