News

05.13.2013

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PIERRE-CHARLES

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Niger : BOAD supports Microfinance Institution Asusu SA

The West African Development Bank (BOAD) helps Microfinance Institution Asusu SA for an amount of 1 billion CFA.

The President of The West African Development Bank (BOAD), Christian Adovelande visited headquarters in Lomé to sign a loan agreement with Mrs Reki Moussa Hassane, CEO of the ASUSU SA Company.

This contract stipulates that the Bank is willing to give a total of 1 Billion of CFA Francs to refinance loans to its customers. Thanks to this agreement the Bank affirms its support for low-income population who do not always have access to credit and the desire to « do more in the microfinance sector which continues to face persistent difficulties in the region».

It is the second intervention of BOAD for a Microfinance Institution.
This action from the Bank aims to support Asusu SA in financing projects as part of the 3N initiative " Nigerian Feed Nigerian" which aims to strengthen national capacity and resilience to food crises.

These projects can be resumed as actions to improve farming methods and management of ressources in order to increase the availability of animal products (meat, milk, etc. ...) and consumer products (cereals).

In this context, ASUSU SA will be able to develop adapted financial products in areas with high agricultural potential.

Source : Ecofin Finance

This article is part of the special report: