|Approval Date||04 Feb 2008|
|Signature Date||24 Nov 2008|
|Planned Completion Date||31 May 2014|
|Last Disbursement Planned Date||31 Dec 2013|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
This project relates to the creation of Advans Banque Congo (ABC). It's designed in the context of the Government's development objectives, aimed at supporting the establishment of sustainable inclusive financial systems in the DRC for the benefit of all. It should have the status of an entirely new microfinance bank providing financial services to low-income populations in the DRC. In five years, ABC is expected to have more than 20,000 active customers and a loan portfolio of approximately US $ 26 million. For a start, ABC should offer micro and small entrepreneurs, four simple but proven products: (i) group loans: amount limited to US $ 1,500 per borrower member of the group and repayable over a maximum of 12 months; (ii) individual loans to be used as working capital: amount limited to US $ 15,000 and repayable over a maximum of 12 months; (iii) individual loans for fixed assets and (iv) loans to SMEs: amount limited to € 15,000 and repayable over 24 months maximum.
The objective of the project is to provide a wide range of financial services suitable for micro, small and medium enterprises (MSMEs) as well as other low-income clients.
The final beneficiaries of the project are the economically active poor, micro and small enterprises, group and cooperative loans and commercial banks.
Fund for African Private Sector Assistance
Advans Banque Congo (ABC)
|Last Update||31 Oct 2019|
|Country||Congo, the Democratic Republic of the|