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.
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