Abidjan, 3 October 2022 (TDI): The African Development Bank (AfDB) signed a memorandum of understanding with the Financial Institution, Caisse des Dépôts et consignations of Côte d’Ivoire for a grant of US$400,000 on 27 September in Abidjan.
This grant aims to accelerate the initiation of the interventions of the Caisse des Dépôts et consignations in favor of small and medium-sized Ivorian enterprises.
The grant comes from a multi-donor fund, the Capital Markets Development Trust Fund, administered by the African Development Bank.
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Purpose of grant
The project will help to support small and medium-sized Ivorian businesses in the context of post-Covid-19 recovery, and to promote entrepreneurial initiatives, in favor of women and young people in particular.
Ahmed Attout, Head of the Capital Markets Development Division of the African Development Bank Group, said that “We are delighted with this first collaboration between the Bank Group and the Caisse des Dépôts et consignations de Côte d’Ivoire.”
“By strengthening the capacities of the Caisse des Dépôts et consignations de Côte d’Ivoire, this project will help to broaden the base of long-term investors in Côte d’Ivoire and to diversify the sources of financing for small and medium-sized Ivorian companies.” He added.
Remarks by Director General
The Director General of the Caisse des dépôts et consignations de Côte d’Ivoire, Lassina Fofana, in this regard, said that “Contributing to the financing of small and medium-sized enterprises is part of the missions of the Caisse des Dépôts et consignations de Côte d’Ivoire.”
Moreover, he said “The Caisse des dépôts et consignations of Côte d’Ivoire extends its sincere thanks to the African Development Bank for this mark of confidence and is delighted with this first collaboration which will strengthen its capacities, in order to further support Ivorian small and medium-sized enterprises”
“The Caisse des dépôts et consignations of Côte d’Ivoire intends to ensure the proper implementation of this project, which will make it possible to develop financing mechanisms for small and medium-sized Ivorian companies, in synergy with the Ivorian banking and financial sectors,” Fofana added.
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