The loan facility to COFINA Côte d’Ivoire will support on-lending to women micro-entrepreneurs, young entrepreneurs and SMEs, which is fully aligned with FMO’s strategic goal of Reducing Inequalities and SDG 8. The transaction is the 2nd deal pursued with the COFINA Group and will also be the second FI-AF loan in Côte d’Ivoire. Even though Côte d’Ivoire has maintained a strong economic growth rate in the last years, close to one person out of two still live below the national poverty line. The bulk COFINA Côte d’Ivoire portfolio is dedicated to MSME funding, our loan will thereby drive financial inclusion, which is critical in reducing poverty and achieving inclusive economic growth.
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