(Business in Cameroon) - Proparco, a subsidiary of the French Development Agency (Agence Française de Développement - AFD) dedicated to financing the private sector, announced on 18 December 2015 having granted a credit line of FCfa 26.2 billion to BICEC, the Cameroonian subsidiary of the French banking group BPCE, in order to support the local economy.

In practical terms, the Proparco communiqué stressed, "this financing will enable the (credit) establishment to develop its credit activity in the middle and long term in Cameroon", lending to companies who represent approximately 80% of the global financing granted by BICEC.

Among the top three banks operating in Cameroon, BICEC, with a network of 37 branches covering the whole country, has in its portfolio companies active in sectors such as energy, food industry, telecoms, manufacturing industry, trading and distribution.

Established in the economic capital of Cameroon for over 10 years now, Proparco for its part works with the private sector in a wide variety of sectors such as energy, telecoms, food industry or finances. To date, its financial commitments in the region have totalled approximately FCfa 98.4 billion.