Mali: USD 60 million to finance a project to promote access to finance

The Malian government and the World Bank signed on April 20, 2021, a financing agreement relating to the Project to promote access to finance, entrepreneurship and employment in Mali (Pafeem), approved on March 17 by the board of directors of the Bank.

“This initiative amounting to 60 million US dollars, including 30 million in donations and 30 million in credit, aims to support the efforts of the government to face the challenges of financial inclusion, financing of micro, small and medium-sized enterprises (MSMEs) and the creation of income-generating activities, particularly for the benefit of young people and women ”, declared Soukeyna Kane, the director of operations of the World Bank in Mali who initialed in Bamako, the agreement with Mohamed Salia Touré, the Malian Minister of Employment and Vocational Training.

According to its designers, this project aims to promote access to finance, entrepreneurship and employment for vulnerable segments in Mali. It will guarantee a loan or line of credit to 1,000 micro, small and medium enterprises and 15,000 people will benefit from income-generating opportunities, especially women.

In addition, it is said, Pafeem adheres to the sustainable economic development strategy which includes the promotion of “inclusive development and economic transformation”, and supports national efforts for employment. It is also part of the policy of the West and Central Africa region of the World Bank aimed at strengthening human capital, the empowerment of women, the acceleration of digital transformation and integration. regional.

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