French government to fund Mozambican bank Banco ProCredit

6 May 2011

Maputo, Mozambique, 6 May – Mozambican bank, Banco ProCredit and the French Development Agency (AFD) this week in Maputo signed a convention under the terms of which the bank will have access to funding of 459,000 euros, the Mozambican press reported.

The agreement make sit possible for the AFD, via funds provided by the French Finance Ministry, to support the bank’s credit offering to small and medium-sized enterprises (SMEs) operating in Mozambique.

The convention, which will be in force for three years, was signed by the French ambassador to Mozambique, Christian Daziano, by the director of the AFD in Mozambique, Dimitri Kanounnikoff and Yann Groger, director-general of Banco ProCredit.

Banco ProCredit (http://www.bancoprocredit.co.mz/) is a universal bank focused on development, whose activities involve providing loans to very small, small and medium-sized companies, but does not offer consumer credit. (macauhub)

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