Signature of a partnership agreement between Bpifrance and Ecobank
Bpifrance, through its subsidiary Bpifrance Assurance Export, has signed a memorandum of understanding with the Ecobank Group, the pan-African bank present in 35 African countries.
The two institutions thus intend to promote French exports to the African continent by covering lines of credit of up to 100 million euros for African buyers.
This Memorandum of Understanding was signed on 26 June in Paris by François Lefebvre, Managing Director of Bpifrance Assurance Export and Ibrahima Diouf, Managing Director of Ecobank International France.
This agreement provides for the possibility for Bpifrance to cover credit lines made available to African buyers up to 100 million euros for the benefit of French exporters, either as a lending bank or on the basis of "on-lending" schemes : borrowing on behalf of African buyers, with the intervention of a third party lending bank.
The agreement demonstrates the willingness of French public players to support and promote trade and cooperation between France and Africa.
In addition, through this partnership, the Ecobank Group intends to offer its customers innovative trade finance solutions.
This new arrangement will enable Ecobank's customers to facilitate the financing of their investments.