(Business in Cameroon) - The Islamic Corporation for the Development of the Private Sector (ICD), a subsidiary of the Islamic Development Bank (IDB), through a partnership with Afriland first Bank, just opened a CFA24 billion credit line for Cameroonian SMEs’ funding.

“Through these funding, we intend to be IDB’s strategic partner in Central Africa”, explained Youssoufa Bouba, director of specialized finance at Afriland and the key person in charge of relations between Afriland and IDB. He added that the initiative adds up to the strategic convention signed by Chi Jianxin, the president of the China-Africa Development Fund and Paul Kammogne Fokam, president of Afriland First Group management, on September 25, 2017, to develop projects in Africa.

The partnership signed in 2012, between IDB and Afriland First Bank, for the promotion of banking products have already helped fund SME and SMBs with CFA20 billion.

Sylvain Andzongo