| France lends 5 billion CFA francs to Mali Agricultural Development Bank |
| Emerging Markets Business News |
| Monday, 07 December 2009 10:47 |
|
Bamako, Mali - The French Development Agency (AFD) and the “Banque Nationale de Développement Agricole” (Agricultural Development Bank) of Mali have signed two financing agreements for a total amount of about 5 billion CFA francs, APA learns here Saturday in Bamako, on the sidelines of a session of the Malian financial institution’s board of directors meeting.
The first agreement is about a 2 billion francs CFA loan (about 3 million euros), essentially for steadily growing technical and vocational education in Mali. Regarding the second agreement of 3 billion CFA francs granted as collateral, it aims to support the Agricultural Development Bank in financing three sectors which are private education, small and medium enterprises and microfinance institutions. The collateral provides the coverage and diversification of risk for BNDA’s development activities in those areas considered to be of high growth potential. -APA |
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