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Proparco is supporting SMEs in Madagascar by allocating a Choose Africa Resilience guarantee to BNI Madagascar
Project
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Signature date
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Location
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Madagascar
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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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MGA 9bn guarantee
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Customer
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BNI MADAGASCAR
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Type of customer
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Financial institution
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Project number
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CMG1743
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a portfolio guarantee to BNI Madagascar to cover loans to SMEs affected by the Covid-19 crisis.
Client presentation
BNI Madagascar was a subsidiary of Crédit Agricole until 2014. It has the 2nd largest banking network in Madagascar with 97 branches nationwide.
Project description
The portfolio guarantee allocated by PROPARCO will allow BNI to offer loans with an 80% guarantee from AFD Group to SMEs weakened by the Covid-19 crisis. This supply of loans with an 80% guarantee from AFD Group, made possible through support from the French State, is part of the Resilience component of the French Choose Africa initiative.
Project impact
The guarantee will cover an SME loan portfolio for a total of up to EUR 2.5m.