The Islamic Corporation for the Development of the private sector, and Coris Bank International – Burkina Faso, have entered into an agreement to finance private sector enterprises in Burkina Faso, affected by the COVID-19 pandemic.
Chief Executive Officer of ICD, Ayman Amin Sejiny, and Managing Director of CBI, Diakarya Ouattara, signed the Line of Financing agreement for €15m under the Commodity Murabaha Financing Structure dedicated to the ‘Islamic Window of the Bank.’
On this occasion, the ICD boss, commented, “The Line of Financing facility will be utilised by CBI – Burkina Faso to support economic activities of eligible private sector businesses that have been affected by the COVID-19 outbreak. This facility is part of ICD’s $250m Support Package to assist member countries recovering from COVID-19 pandemic.”
In his speech, Ouattara “praised the quality of the partnership between the two institutions and recalled that in 2016 the bank benefitted from the first line for an amount of €17m over a four-year maturity.”
He added, “This has enabled them to support several small and medium enterprises through the financing of projects in various vital sectors such as health, education, agriculture, agro-food industry and transport.”
