MICROCAPITAL BRIEF: Legislation Requires MFIs Under Central Bank of West African States Join Trade Associations

New legislation will require all MFIs to join national trade associations in West African countries of Benin, Burkina Faso, Cote d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.  The Central Bank of West African States (BCEAO) with the assistance of Government of Luxembourg are interested in structuring the microfinance sector through sound policies for growth.  In connection with this movement, Developpement International Desjardins (DID), which is the development arm of a Canadian investment bank, has been awarded two new contracts to provide a development strategy which will include the strengthening of  West African microfinance trade associations. DID has already conducted a diagnostic analysis of all microfinance trade associations in West Africa. 

About BCEAO:
The Central Bank of West African States (BCEAO) is the regional central bank for eight member states which together from the West African Monetary Union.  The BCEAO is a public international institution headquartered in Dakar, Senegal.  BCEAO website: http://www.bceao.int/internet/bcweb.nsf/english.htm?OpenFrameSet
 
About DID:
A subsidiary of Desjardins Group, an investment bank, Developpement International Desjardins (DID) is a Canadian corporation that specializes in providing technical support and investment for the development finance in emerging countries. DID is currently assisting projects in over twenty nations in Africa, Latin America, the Caribbean, Asia and Central and Eastern Europe.  DID website: http://www.did.qc.ca/en/qui-sommes-nous/default.html
 
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