Scaling up financing for high-impact SMEs in Guinea
Guinea
This new ARIZ portfolio guarantee to Finadev is enabling the microfinance institution to continue to increase its lending to small borrowers in Guinea.
Client presentation
Finadev (Financial Development) is a microfinance institution (MFI) set up in 1998. In 2019, it joined the network of the pan-African group Finafrica, itself owned by the French group Duval. Finadev is well positioned in the microfinance sector in Guinea and is one of the five leading players.
Proparco’s relations with Finadev started in 2018 with the allocation of an ARIZ portfolio guarantee.
Project description
This new portfolio guarantee is a renewal of the previous guarantee (EUR 2m allocated in 2018) which covers loans allocated to MSMEs.
It is a continuation of the relations with the microfinance institution, which wished to extend the partnership with Proparco through the ARIZ tool to support financing for MSMEs.
Project impact
The ARIZ risk-sharing mechanism will enable Finadev to increase access to financing for small businesses and extend its loans to high-impact sectors and segments, including health and education, in a post-Covid context. The operation aims to support new and resilient companies and thereby boost job creation and economic growth, which are key objectives for AFD Group.
This information is given at the time of signature, without prejudice to any developments in the operation/project
11/22/2023
Date of signature of the project
Sectors
Guinea
Location
Financing tool
2 000 000
Euros
Amount of funding
GNF 18,675,728,980.00 guarantee
FINADEV
Head office country
CGN1373
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on the same region
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on the same topic
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on the same financial tool
