Ecobank Ghana is an affiliate of the pan-African banking group Ecobank Transnational Incorporated (ETI). Ecobank Ghana has been established in Ghana since 1990 and is today one of the three leading local banks.
Proparco has signed a partnership with Ecobank on behalf of AFD Group. It is part of the Choose Africa and ARIZ initiatives. The objective is to allow Ecobank Ghana to offer term loans for a total of up to GH¢ 50m (EUR 7.4m) to microenterprises and small and medium-sized enterprises affected by the economic repercussions caused by Covid-19.
Once Ecobank has examined the financing requests, companies with less than 200 employees affected by the pandemic may be allocated loans under the Choose Africa initiative with maturities ranging between 12 and 60 months. These loans may amount to a total of up to three months of their turnover in 2019. Through this guarantee product specially created in response to the crisis, Ecobank Ghana will be able to maintain its financial flows to SMEs whose activity has been affected by the crisis: this product is thereby increasing the resilience of the SME segment, which is a central link in Ghana’s economy.
This information is given at the time of signature, without prejudice to any developments in the operation/project
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