Between 11 and 14 November, Proparco took part in FELABAN, the Latin American banking sector’s standout annual event. Proparco marked the occasion by renewing its partnership with the Promerica bank via a $US 20 million line of credit to support the development of Costa Rican SMEs. These are the country’s economic lifeblood (i.e., SMEs represent 90% of all of businesses).
Proparco participates in the financing of the construction and operation of 5 solar photovoltaic power plants delivering a total of 225MW of capacity for a total amount of €116 million. Through these operations, Proparco will contribute to prevent the emission of more than 3.8 million tons of CO2 and to the creation of more than 7,000 direct and indirect jobs.
This €25M funding facility will allow 49,000 new low-income housing units to be built by 2023 in priority urban development areas. This funding includes a €10M sub-participation from AFD, Proparco's parent company.
To help Cameroon handle the major challenge posed by waste management, SOCIÉTÉ GÉNÉRALE CAMEROUN, ECOBANK and BICEC have just granted a loan – backed up by a guarantee provided by PROPARCO – to HYSACAM that will help renew its fleet of over 200 trucks in order to improve waste collection services in cities throughout the country.
Proparco and FMO commit USD 30 million to Banque Populaire du Rwanda (part of Atlas Mara Group) to support the Rwandan private sector
Proparco and FMO, respectively the French and Dutch Development Finance Institutions, signed a USD 30 million loan to Banque Populaire du Rwanda (BPR), with both providing USD 15 million each. Proparco has acted as the mandated lead arranger of the USD 30 million credit facility.
Proparco has just signed a financing agreement with Agence de Crédit pour l’Entreprise Privée au Cameroun S.A. (ACEP Cameroun, or Cameroon Private Enterprise Credit Agency), a member of the pan-African microfinance network ACEP International. The local currency loan of 2bn CFA francs (equal to €3m) will go to support the expansion of ACEP Cameroun’s work in Cameroon, with SMEs in the countryside as primary targets.
In connection with Les Rencontres Africa 2017, an event held in Abidjan from 2 to 4 October 2017 , Proparco signed a new agreement with Teyliom on 2 October to provide €8.5m in funding for the construction of an upscale hotel in Niamey under the Noom brand name.
Proparco has granted a $15 million loan to ENYI Hotel Hospitality to build a business hotel complex in Addis Ababa. The hotel will operate under the Pullman brand of French company Accor. This is Proparco’s first project in Ethiopia in several years, and is being financed in conjunction with regional and local partners.
The two institutions have committed US$ 58 million each for two 50 MW solar photovoltaic power plants.
Yesterday Proparco granted a €15 million subordinated loan to Manuchar, a Belgian-based commodities trading and logistics company. These funds will enable Manuchar to grow the business and enhance the storage facilities of two of its agri-food subsidiaries in Brazil and Vietnam.