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Cameroon to set up three funds to support companies in their post-COVID-19 recovery efforts

Cameroon to set up three funds to support companies in their post-COVID-19 recovery efforts
  • Comments   -   Tuesday, 20 April 2021 12:52

(Business in Cameroon) - The Cameroonian Ministry of the Economy recently issued a call for expression of interests to recruit a partner (a bank or microfinance institution) for the creation of economic recovery funds geared towards the productive sector.  According to the Ministry, the selected partner will support the government in the creation of three funding windows to help companies recover from the coronavirus crisis.

The funding windows will be endowed with XAF7 billion. Specifically, the fund created for very small companies and enterprises will be endowed with XAF2 billion. A XAF1 billion fund will be created for start-ups and innovative companies while a XAF4 billion guarantee will be established for medium enterprises.

Officially, the XAF7 billion for these windows comes from the XAF10 billion provided to the Ministry of Economy in the framework of the XAF150  billion COVID-19 solidarity fund.

BRM

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