Project General Description
This project involves a lending operation of 5,500,000 Euros for 8 years at the Malian Bank of Solidarity (BMS-SA). Recall that the BMS-SA was created by the Malian State as part of the National Strategy to Fight Poverty. It has capitalized, in 12 years of existence, rich and various experiences in the management of SME-SMI projects, in particular within the framework of the program of support to retail traders, of the program of support to the youth in collaboration with French cooperation (PAJM), the EYP and the ANPE. The line of credit, object of the operation, is part of the commitment of the African Development Bank Group (AfDB) to support the efforts of the Malian government, with a view to resuming economic growth and accelerated poverty reduction. It will be disbursed in two tranches, namely a first tranche of 3,000,000 Euros and a second of 2,500,000 Euros.
The main objective of the credit line is to strengthen the financing of micro-finance institutions and SMEs and accelerate poverty reduction while contributing to the promotion of employment and development of SMEs and DFIs operating in various sectors. Specifically, the aim is to provide the BMS with medium and long-term financial resources for its clients of MFIs and SMEs / SMIs.
The project targets mainly small entrepreneurs or economic agents (men and women) operating in all sectors of income-generating activities, with limited means, on soft terms given the difficulties of access to conventional bank financing. In particular, young people, vulnerable social strata, victims of economic restructuring, microfinance institutions, artisans wanting to start their own business; legal persons.