BCEAO releases $ 6 billion for West African economies

The BCEAO has just made a liquidity injection of 3350 billion FCFA ($ 6 billion) at a fixed rate of 2% in favor of several banks of the UMOA. A total of 87 financial institutions participated in the operation. The Central Bank of West African States (BCEAO) made a further injection of liquidity to its member countries last week. In total, 3350 billion FCFA ($ 6 billion) were disbursed by the institution.

During the auction on September 14, 87 banks in the sub-region obtained an injection of liquidity at a fixed rate of 2%. With more than 1000 billion FCFA ($ 1.8 billion), it is the Ivory Coast which obtained the most important financing, ie 31% of the funds injected.

It is followed by Senegal with more than 580 billion FCFA ($ 1 billion), Mali with 466 billion FCFA (835 million $), Benin with 434.5 billion FCFA (777 million $) and Burkina Faso with 318 billion FCFA. ($ 569 million). Niger with 241.6 billion FCFA ($ 432 million), Togo with 219 billion FCFA (…

Coronavirus: A fund to advance money to small businesses | France

Some companies are in difficulty, but are not eligible for the national solidarity system. To compensate for this lack, a fund which will allow up to 10,000 euros to be paid to companies with fewer than 10 employees has been launched in the Pays de la Loire region, the region's president announced on Tuesday.

A fund to advance money to small businesses

"What I feared is that, for example, a trader who has a turnover drop of 40%, and suddenly, he is not helped at all", explained Christelle Morance (LR ) about the national solidarity fund. The latter offers a subsidy of 1,500 euros, as soon as a small business can prove that it has lost at least 50% of its turnover.

This regional system is intended to be very simple and rapid, with a declaration on honor made by the business manager, ensuring that he does not benefit from the national system. The amount loaned will range from 3,500 euros for companies with less than 50,000 euros in turnover per year, to 10,000 euros for those with more than 100,000 euros. They will then have between one and three years to repay.

Departments and agglomerations mobilized

"This fund will be endowed with 32 million euros initially," continued Christelle Morance, explaining that the Banque des Territoires and the region contributed half, while the five departments that make up the Pays-de-la- Loire and the intermunicipalities brought the other half. Each community contributes up to two euros per inhabitant and the money it advances is allocated to businesses in its territory.

"All of the major cities in each department: Nantes, La Roche-sur-Yon, Angers, Le Mans and Laval said yes, and today more than two-thirds of the intermunicipal authorities are responding favorably and I think we will arrive to 100% of intermunicipal links in a few days, "said the regional president. The project will start in mid-April.