Minister of finance reassures local microfinance institutions as Coronavirus hampers their activity

Economic governance
Thursday, 07 May 2020 16:01
Minister of finance reassures local microfinance institutions as Coronavirus hampers their activity

(Togo First) - Yesterday, Sani Yaya, the minister of finance met with microfinance institutions to assess the impacts of the Covid-19 outbreak on their activities and review the implementation of measures taken by the Central Bank. 

On this occasion, Yaya reiterated the government’s commitment to supporting microfinance institutions. 

This crisis, and the situation of microfinance institutions, are major concerns for the government,” the minister indicated while emphasizing that key decision-makers across the WAEMU are also looking into the issue.  

The official demanded that the institutions provide working capital to their customers, to cushion the negative impact the current sanitary crisis may have on their activity and support the government’s efforts in the agricultural sector. 

A reflection committee should soon be put in place to organize the economic response to the pandemic. This committee should include members of the ministry of finance, the Central Bank, banks and microfinance institutions, as well as various actors of the private sector. 

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