PRO-PME III Global Loan

Promoter – Financial Intermediary

PRO-PME Financement S.A.
Credit institution specialising in financing of small and very small firms in Cameroon (meso finance).

Location

• Cameroon

Description

Third local currency (CFAF) credit line for financing schemes promoted by small and very small enterprises in the industrial, agribusiness, fisheries, tourism, health, education and related services sectors.
The Bank's loan will finance PRO-PME's loans and leasing operations in favour of the final beneficiaries.

Objectives

The proposed operation complies with the principles and aims of the Investment Facility established under the Cotonou Agreement. It will help to support Cameroon's private sector, particularly small urban businesses, which make a substantial contribution to the country's economic growth, and will assist the local financial sector by providing resources tailored to local investment requirements in terms of duration and cost.

Sector(s)

• Credit lines

Proposed EIB finance (Approximate amount)

EUR 5 million.

Total cost (Approximate amount)

Not applicable.

Environmental aspects

PRO-PME will ensure that all the necessary permits and authorisations issued by the various competent authorities are obtained for the projects financed. Application of national environmental regulations by the borrower will be systematically required. If necessary, additional investigations will be required to ensure that the projects comply with the Bank's environmental standards.

Procurement

PRO-PME will ensure that its customers' selection of supplies and services includes, if appropriate, the competitive tendering necessary to guarantee the sound economics of each project.

Status

Signed - 28/06/2010