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Facilitating access to loans for young project promoters

ByWebmaster

Sep 5, 2023

BUJUMBURA September 5th (ABP) – Facilitating access to loans for young project promoters is among the priorities of the Ministry of Finance, Budget and Economic Planning during the 2023/2024 financial year, according to a press release published by the said ministry.

Young project promoters will access those loans through a Guarantee Fund of 1,800,000,000 BIF, which was granted to the Youth Investment Bank. The ministry will also facilitate the granting of loans to farmers through an agricultural guarantee fund of 1,850,000,000 BIF which has been made available to the National Bank for Economic Development (BNDE), the same press release specifies.

The ministry therefore calls on women and young people to seize the opportunity to set up bankable projects to submit to those institutions. Furthermore, the government has set up an Impulse, Guarantee and Support Fund (FIGA) to support women and young people through the Investment Bank for Women’s Development (BIDF) and the Youth Investment Bank (BIJE).

Thus, it is specified in the press release that an amount of 1,168,359,000 BIF was used to guarantee 119 loans granted by the BIDF. In addition, people teamed in cooperatives with at least 2 ha of arable land have benefited from loans granted by the BNDE and guaranteed by FIGA.

As a reminder, as part of the domestic fundraising, the Ministry of Finance, through the Burundian Revenue Authority (OBR), collected, for the 2022/2023 financial year, domestic revenues which amount to 1, 636 billion BIF while the achievements for the 2021/2022 financial year amounted to 1, 352.4 billion BIF, an increase of 284 billion BIF, from one financial year to the next.