Friday, January 27, 2023
HomeBusinessNiger: African Development Fund Provides $16 Million to Support Financial Sector Deepening...

Niger: African Development Fund Provides $16 Million to Support Financial Sector Deepening and Inclusion

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, has approved $16 million in loan and grant financing to Niger to implement the Financial Sector Deepening and Inclusion Project.

The project will strengthen mobilization of long-term resources for financial service providers and improve financial inclusion of vulnerable populations, particularly women, youth, rural dwellers and micro, small and medium enterprises.

Specifically, the project will contribute to the establishment of a financing mechanism that is conducive to the needs of micro, small and medium-sized enterprises through the capitalization of the Financial Inclusion Development Fund and the strengthening of the technical and operational capacities of financial service providers, particularly the decentralized financial systems. This will enable them to develop financial products and services adapted to the needs of the population. All of this, with a view to increasing the resilience of the financial sector and reducing poverty in Niger. 

Niger’s Minister of Finance, Ahmat Jidoud said he welcomed “this support from the African Development Bank which will strengthen the technical and financial capacities of financial service providers in Niger, in particular decentralized financial systems, which will make it possible to broaden access to financial services to the greatest number of our citizens, especially those living in rural areas.”

Ahmed Attout, Head of the African Development Bank’s Capital Markets Development Division said: “We are delighted with this collaboration between the African Development Bank Group and Niger. By strengthening the capacity of the Financial Inclusion Development Fund and financial service providers, this project will help diversify the sources of financing for Nigerien small and medium-sized enterprises and increase financial inclusion in Niger.

Source African Development Bank Group

The Maravi Post has over one billion views since its inception in December of 2009. Viewed in over 100 countries Follow US: Twitter @maravipost Facebook Page : maravipost Instagram: maravipost    
Maravi Post Reporter
Maravi Post Reporter
Op-Ed Columnists, Opinion contributors and one submissions are posted under this Author. In our By-lines we still give Credit to the right Author. However we stand by all reports posted by Maravi Post Reporter.

Most Popular

Recent Comments

The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?
Muhindo Isevahani on The Cold War Against TB Joshua
JCON/SCOAN/BKN(888/8885/8808) on The Cold War Against TB Joshua
Keen Observer on Jesse Kabwila, Then and Now
Francesco Sinibaldi on Advertising in 2020 and beyond