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Yaoundé - 23 June 2017 -
Cooperation

Islamic Development Bank boasts investment portfolio of FCfa 615 billion in Cameroon

Islamic Development Bank boasts investment portfolio of FCfa 615 billion in Cameroon
  • Comments   -   Thursday, 13 April 2017 06:19

(Business in Cameroon) - Within the framework of cooperation with the Islamic Development Bank (IDB), Cameroonian entities, the government as well as its breakdown that are private economic operators, have received financial assistance estimated at FCfa 615 billion from IDB. This through about 80 operations,  revealed the IDB representative in Cameroon, Abdou Rassoul.

The investments of IDB and its subsidiaries in Cameroon are generally oriented towards the development of infrastructure and promotion of agro-pastoral activities. From this point of view, the IDB is one of the main financial partners of Sodecoton, the giant of agro-industry in the north part of the country. For some years now, the IDB is also promoting the financing of SMEs in Cameroon and the practise of Islamic financing, notably through its credit lines granted for this purpose to local banks such as Afriland First Bank or even SCB Cameroon, the subsidiary of the Moroccan group Attijariwafa Bank.

BRM

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