{"id":460384,"date":"2018-06-05T13:07:30","date_gmt":"2018-06-05T13:07:30","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=460384"},"modified":"2018-06-05T13:07:30","modified_gmt":"2018-06-05T13:07:30","slug":"ifc-announces-60-million-in-africa-loans","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/06\/05\/ifc-announces-60-million-in-africa-loans\/","title":{"rendered":"IFC Announces $ 60 Million in Africa Loans"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The International Finance Corporation (IFC) announced on Monday, June 4, a $ 60 million investment to support small and medium-sized business loans in eight African countries, thereby facilitating growth and job creation in the region.<br \/>\nThe funding will support Bank of Africa Group (BOA) loans to small and medium-sized enterprises in Burkina Faso, Ghana, Mali, Niger, Senegal, Tanzania, Togo and Madagascar.<br \/>\nSupported by IFC&#8217;s Women&#8217;s Opportunity Fund (WEOF), the investment will cover up to 50% of the risk with an amount equivalent to $ 120 million in loans to SMEs in these countries, including half of the expenses will be allocated to women-run businesses.<br \/>\nAccording to IFC&#8217;s Regional Director for Africa, Oumar Seydi, &#8220;expanding SME financing, especially in higher-risk markets, is an important pillar of IFC&#8217;s strategy for Africa. . This facility will allow BOA to provide more than 5,000 loans to underserved SMEs over the next five years. It could have a transformational impact on participating countries, including seven low-income countries and five fragile and conflict-affected countries. &#8221;<br \/>\nAccording to official figures, in sub-Saharan Africa, where around 350 million new jobs will be needed over the next 20 years, SMEs account for 30-60% of gross domestic product and 67% of jobs.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The International Finance Corporation (IFC) announced on Monday, June 4, a $ 60 million investment to support small and medium-sized business loans in eight African countries, thereby facilitating growth and job creation in the region. The funding will support Bank of Africa Group (BOA) loans to small and medium-sized enterprises in Burkina Faso, Ghana, Mali,<\/p>\n","protected":false},"author":527297,"featured_media":460386,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12040,12046],"tags":[534],"class_list":{"0":"post-460384","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-international-institutions","8":"category-leaders-en","9":"tag-ifc","10":"post_format-post-format-aside","11":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IFC Announces $ 60 Million in Africa Loans - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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