China: Proparco signs two new projects to support women microentrepreneurs in rural areas and finance electric trucks
PROPARCO has just signed two new loans in China. The first USD 20m loan has been allocated to CD Finance, China’s main microfinance institution in rural areas. It will be exclusively earmarked for access to microcredits for women microentrepreneurs in Gansu Province. The second USD 10m loan will finance Lionbridge’s green leasing program for electric trucks.
Proparco and Bpifrance launch Averroès Africa, their new fund of funds to promote the development of the private equity industry in Africa
Bpifrance and Proparco have announced the first closing of Averroès Africa, their fourth private equity fund of funds for Africa. With a target size of EUR 100m, Averroès Africa will invest in African funds dedicated to start-ups and small and medium-sized enterprises in order to continue to support private sector development, employment and innovation on the continent.
Agriculture is a key sector for social and human development in Zimbabwe and Zambia. It employs 65% and 75% of the population, respectively, and accounts for 15% and 19% of GDP. The sector is a pillar of a once prosperous economy in Zimbabwe, but its yields and production have been reduced since the early 2000s.
Through a US$60 million loan granted to the West Indian Ocean Cable Company (WIOCC), a panafrican telecommunications infrastructure company, Proparco further reaffirms its commitment to innovation and economic growth in the African continent.