Dakar, Dec 26 (APS) – The Priority Investment Guarantee Fund (FONGIP) and the National Bank for Economic Development (BNDE) signed, Thursday, in Dakar, partnership agreements comprising several objectives, including the financing of small and medium-sized agricultural enterprises (SMEs) and the peanut seed marketing campaign.
The two public organizations signed a framework agreement and a memorandum of understanding relating respectively to financing of 5 billion and 10 billion CFA francs.
”These conventions mark a decisive step in our common commitment to supporting our SMEs and SMIs (small and medium-sized industries), agriculture, the peanut marketing campaign in particular, in 2024 and 2025,” said Mamadou Faye , the general director of BNDE.
Ndèye Fatou Mbodj, general administrator of FONGIP, and Mamadou Faye, general director of BNDE
The support of BNDE and FONGIP for SMEs involved in agriculture is necessary, because agricultural activity is “a source of income for millions of our fellow citizens and an essential lever for food sovereignty and job creation. and sustainable development,” added Mr. Faye.
The partnership agreements signed will allow the bank he manages to finance agricultural SMEs.
”These conventions that we seal today […] are a concrete and ambitious response to the needs of stakeholders in this strategic sector,” underlined Mamadou Faye.
”It is above all a question of putting in place a joint intervention approach to better support the development ambitions of the national private sector,” explained Ndèye Fatou Mbodj, the general administrator of FONGIP.
Ndèye Fatou Mbodj and Mamadou Faye surrounded by their collaborators
On the basis of the signed agreements, a guarantee fund will be set up to finance the 2024-2025 agricultural campaign, for the benefit of agricultural economic operators.
FONGIP will contribute, thanks to the partnership sealed with the BNDE, to the implementation of the measures retained during the interministerial councils devoted to the agricultural campaign […]May 3 and November 26, 2024,” said Ms. Mbodj.
According to her, this will involve providing credit guarantees to banks to facilitate access to financing for SMEs.
FONGIP and BNDE support, through their collaboration, the government’s food self-sufficiency policy by meeting the expectations of agricultural stakeholders, helping them to have financial resources, seeds, fertilizers, phytosanitary products and equipment. agricultural, according to Ndèye Fatou Mbodj.
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