Proparco to guarantee operations on the financial market of the WAEMU
This is the first institution based outside the continent to benefit from this status.The authorities of the Economic Union and West African Monetary (WAEMU) have appointed Proparco as a guarantor of financial transactions on its financial market.
The subsidiary of the French Development Agency has obtained the authorisation from the Regional Council of Public Savings and Financial markets, the regulator of the West African financial center.
It becomes the first institution based outside the continent that is allowed to provide guarantees related to public tenders on the financial market of the WAEMU, according to Jeune Afrique.
It will thus help to strengthen investor confidence in the market and contribute to its expansion.
Proparco was created in 1977 to contribute to increased private sector financing.
Its mission is to foster private investment in emerging and developing countries to support growth, sustainable development and the achievement of the Millennium Development Goals.