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Scaling up financing for high-impact SMEs in Guinea
Project
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Signature date
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Location
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Guinea
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Financing tool
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Financing amount (Euro)
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2000000
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Financing details
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GNF 18,675,728,980.00 guarantee
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Customer
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FINADEV
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Type of customer
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Financial institution
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Country of headquarters
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Guinea
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Project number
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CGN1373
This information is given at the time of signature, without prejudice to any developments in the operation/project.
This new ARIZ portfolio guarantee to Finadev is enabling the microfinance institution to continue to increase its lending to small borrowers in Guinea.
Client presentation
Finadev (Financial Development) is a microfinance institution (MFI) set up in 1998. In 2019, it joined the network of the pan-African group Finafrica, itself owned by the French group Duval. Finadev is well positioned in the microfinance sector in Guinea and is one of the five leading players.
Proparco’s relations with Finadev started in 2018 with the allocation of an ARIZ portfolio guarantee.
Project description
This new portfolio guarantee is a renewal of the previous guarantee (EUR 2m allocated in 2018) which covers loans allocated to MSMEs.
It is a continuation of the relations with the microfinance institution, which wished to extend the partnership with Proparco through the ARIZ tool to support financing for MSMEs.
Project impact
The ARIZ risk-sharing mechanism will enable Finadev to increase access to financing for small businesses and extend its loans to high-impact sectors and segments, including health and education, in a post-Covid context. The operation aims to support new and resilient companies and thereby boost job creation and economic growth, which are key objectives for AFD Group.