The project aims to support the financing of imports of basic necessities in Burkina Faso through a EUR 10 million guarantee envelope on trade finance instruments issued by Vista Bank Burkina. Proparco and the Vista Group are thus strengthening their partnership, less than a month after the integration of the subsidiary in Guinea into the program.

Interview with Robert Aimé Diallo, Director of Corporate Clients at Société Générale Burkina Faso, and Stéphane Sawadogo, Head of the Professional Clients Market. Discover how the bank supports the growth of SMEs in Burkina Faso.

To mark the launch of the new “Resilience” component of the French Choose Africa initiative in Burkina Faso, Mrs. Fatoumata Sissoko-Sy, PROPARCO’s Regional Director for West Africa, and Mr. Harold Coffi, Chief Executive Officer of Société Générale Burkina Faso, have today signed a new Choose Africa project in the presence of H.E. Luc Hallade, Ambassador of France to Burkina Faso. The exceptional Choose Africa Resilience guarantee granted by PROPARCO will cover the allocation of loans by Société Générale Burkina Faso to SMEs in the country affected by the crisis.

Proparco has just signed a EUR 25m subordinated loan which will allow Société Générale Burkina Faso to sustainably strengthen its equity so that it can continue to play a major role in financing SMEs in Burkina Faso.
This financing should soon be combined with the signing of an ARIZ portfolio guarantee.

Fatoumata Sissoko-Sy, PROPARCO’s Regional Director for West Africa, and Dramane Bazié, Chief Executive Officer of COFINA Burkina Faso, have signed a Technical Assistance project to finance the agricultural sector under PROPARCO’s “Fragile Countries” initiative.
The Technical Assistance to the Compagnie Financière Africaine Group (COFINA), one of the leading pan-African groups for MSME financing, will make it possible to launch a study on the cotton sector to subsequently promote the implementation of appropriate financing solutions for MSMEs in Burkina Faso’s agriculture sector.

On November 25, 2021, the two institutions formalized their partnership in Lomé with a 40 million euro loan from Proparco to the West African Economic and Monetary Union (WAEMU, also known by its French acronym, UEMOA) Caisse Régionale de Refinancement Hypothécaire (CRRH-UEMOA), a Regional Mortgage Refinancing Fund, for the refinancing of affordable housing loans granted by WAEMU banks to low-income populations in the zone.

As the French Presidency of the Council of the European Union draws to a close, Proparco and the European Union (EU) announce the granting of a €3 million line of credit in local currency to the microfinance institution ACEP Burkina Faso. This line of credit benefits from the ESDF guarantee, a risk-sharing mechanism in favor of microentrepreneurs and VSEs/SMEs set up by the European Union in response to the Covid-19 crisis.

Local branch Proparco in Burkina Faso

The Dutch development finance institution FMO has announced that it has finalized the financing and contracting for the construction and operation of four solar power plants in Burkina Faso. Proparco and European development banks participating in the Interact Climate Change Facility (ICCF), including AFD, participated in the financing of these plants.

The solar plants will be located near the cities of Nagréongo (near Ouagadougou), Kodeni (near Bobo-Dioulasso), Tenkodogo and Dédougou and together will be able to generate 110 MWp. Three of the four projects have been signed, the signing of the fourth project is underway.

The project consists in the granting of a €30 million guarantee package for trade finance instruments to Coris Bank International SA, the leading bank in Burkina Faso and one of the most important banks in the WAEMU zone. This line of credit, with a maturity of 2 years, is intended to support the financing of imports of essential goods and investments in Burkina Faso.