FNFI: XOF87 billion loans granted to over one million beneficiaries since 2014

Finance
Thursday, 09 January 2020 17:58
FNFI: XOF87 billion loans granted to over one million beneficiaries since 2014

(Togo First) - Since it was launched in 2014, the National Fund for Inclusive Finance (FNFI) claims it lent XOF87 billion to more than a million people. 

Last year alone, the fund registered 35,812 new beneficiaries and more than 32,000 renewals. 

According to reliable sources, the average reimbursement rate for the loans is 93%.

Part of the loans, it should be emphasized, went to annexed programs such as the national program for the promotion of rural entrepreneurship (PNPER). 

The FNFI’s purpose is to lend money, at low-interest rates, to citizens with no access to traditional financial systems, but who have various projects that can contribute to the growth of the Togolese economy. 

Overall, from 2014 to 2019, financial inclusion in Togo soared from 50% to 74%.

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