As Covid-19 persists, authorities decide to set up a CFA20 billion credit line for local SMEs

Finance
Monday, 24 August 2020 16:03
As Covid-19 persists, authorities decide to set up a CFA20 billion credit line for local SMEs

(Togo First) - The State secretary in charge of financial inclusion and the informal sector will set up a CFA20 billion credit line for small and medium enterprises (SMEs) in Togo. The move aligns with measures announced at the recent State summit held concerning the response to Covid-19. 

An agreement was signed last Friday by the National Fund for Inclusive Finance (FNFI) and Orabank-Togo in this framework. Mazamaesso Assih, the head of the State secretary in charge of financial inclusion and the informal sector, was present at the occasion. 

The credit line will enable businesses concerned, regardless of the sector in which they operate, to get loans of up to CFA10 million at a subsidized rate of 5%. This should bolster their activity. 

Séna Akoda

togofirst mobile

 
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