Banque Atlantique Côte d’Ivoire has granted a loan envelope of 354.4 million FCFA, or just over 540,000 euros, for the benefit of 25 SMEs run by women. This is a second series of funding granted under the Fund for the Promotion of Women Entrepreneurship, a fund made available to the State of Côte d’Ivoire by the Banque Centrale Populaire du Maroc group – thanks to a framework agreement between the two countries – to support the ambition of women with an entrepreneurial project.
Set up last year in partnership with the Ministry of Commerce, Handicrafts and Promotion of SMEs, the Fund with a budget of 5 billion FCFA, or 7.62 million euros, has already benefited to 10 women entrepreneurs for an amount of 260 million FCFA, a little more than 396,000 euros.
The challenge for both partners is to open a window of opportunity for women entrepreneurs whose talents are not always recognized to attract significant support from the financial system. “70% of women-owned SMEs in developing countries are excluded by financial institutions or unable to receive financial services with adequate conditions to meet their needs,” notes a World Bank study.
The initiative implemented for more than a year, so far has a total financing of more than 614.4 million FCFA, or nearly 937 000 euros, granted in the form of credit by Atlantic Bank to a total of 35 women entrepreneurs.
The presentation of checks took place on 17 March during a ceremony in the presence of Souleymane Diarrassouba, Minister in charge of the Promotion of SMEs, Abdelmalek Kettani, Ambassador of the Kingdom of Morocco in Côte d’Ivoire, Habib Koné, Director Atlantic Business International and Arsène Coulibaly, Managing Director of Atlantic Bank.
