Share the page
Supporting SMEs affected by the Covid-19 crisis with Advans DRC
Project
-
Signature date
-
-
Location
-
Democratic Republic of Congo
-
Financing tool
-
Financing amount (Euro)
-
2500000
-
Financing details
-
USD 2,827,500 guarantee
-
Customer
-
ADVANS RDC
-
Type of customer
-
Financial institution
-
Project number
-
CCI1156
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and Advans are working together to support the private sector in DRC under the initiative to support African entrepreneurship, Choose Africa.
Client presentation
Advans Banque Congo currently serves over 7,400 borrowers and 110,000 depositors. The institution’s clients are mainly microentrepreneurs and SMEs, via a network of 10 branches. Through its action, it makes a significant contribution to the development of financial inclusion, in both urban and rural areas: in Kinshasa and in four provinces in the country.
Project description
Proparco has signed a partnership with Advans DRC, on behalf of AFD, under the Choose Africa Resilience program. The objective is to allow Advans to offer up to USD 2,827,500 (EUR 2.5m) of emergency loans to small and medium-sized enterprises affected by the economic consequences caused by the Covid-19 pandemic.
Project impact
Once the financing requests have been examined by Advans, companies with less than 250 employees affected by the Covid-19 pandemic may be allocated loans with maturities ranging between 12 and 60 months. This countercyclical solution will allow Advans to maintain financing flows to SMEs, the central link in the economy of Congo-Kinshasa.