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ECOWAS Bank to refinance SMEs/SMIs in Mali

The ECOWAS Bank for Investment and Development (EBID) and the Malian Bank of Solidarity (MBS) on Thursday signed a loan agreement of 5 billion FCFA to refinance small- and medium-sized enterprises (SMEs) and small- and medium-sized industries (SMIs) in Mali.

PANA reported that the agreement was signed at the bank's headquarters in Lome, Togo.

MBS's Managing Director, Babaly Ba, stated that the credit line of 5 billion FCFA, for a six-year term with one year of grace, 'will help refinance our assistance to Malian enterprises for their investments in diverse projects as industrial equipment and  BPW (building and public works) heavy equipments and for the reconstruction of the country's transport and hotel structures'.

The MBS intends to shore up the SMEs and SMIs, weakened by the recent political and military crises in Northern Mali.

Pana 24/01/2014