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Conseil Présidentiel pour l’Investissement

  • COVID-19: A SOLIDARITY FUND FOR COMPANIES

    • July 20, 2020
    • Posted By : admincpi
    • Comments Off on COVID-19: A SOLIDARITY FUND FOR COMPANIES

    At a time when the COVID-19 pandemic is upsetting the economic sector, the Burkinabe government has decided to react by setting up an economic stimulus fund to support business.

    The health challenge facing our country, like other countries around the world, must be met without sacrificing the economic and social lives of actors, both public and private”, said the President of Faso.

    In view of the negative impact of the pandemic on the economy, the banking and financial system, while committing to support the financing of the national economy, will put in place a suitable framework to support companies that are facing difficulties due to the crisis following COVID-19. These measures concern:

    – Deferral of deadlines for companies requesting it;

    – The impact of the fall in BCEAO’s resource cost on customer loan interest rates, as part of the redevelopment of loans to resident companies.

    Under the support measures for the economic recovery, consultations with all stakeholders in the sectors most affected will take place under the auspices of the government.
    We have already set up an economic recovery fund for companies in difficulty worth 100 billion CFA francs. The objective of this fund is to help companies that have experienced a very significant decline in their activity, in order to support them in the face of this exceptional situation.

    The Minister of Economy, Finance and Development for his part, will give instructions to all National Funds and will approach microfinance institutions to carefully examine the files of their clients in difficulty.