On Wednesday, August 2, the official launch of the Business Loan Guarantee Fund (FGPE) in the Republic of Guinea took place. It is an activity organized by Prime Minister Bernard Goumou

The FGPE will certainly reduce the gap between credit supply and demand. The launch of the fund brought together players in the Guinean banking sector. It is placed under the technical supervision of the Ministry of Commerce, Industry and SMEs (MCIPME) and the financial supervision of the Ministry of Economy and Finance. According to Abdoulaye Diallo, director general of the FGPE, the tool that this fund represents is a real adjunct to SMEs. According to him, the “primary mission is to guarantee the financing of SMEs. We have three engines for this: the first engine is the guarantees. We have two products at this level, the partial portfolio guarantee and the individual guarantee. But at the same time we also have other complementary products that we are in the process of launching. This is all that makes payment terms easier for SMEs. No matter how much you take out a loan, if the SME takes two months to get paid compared to a client, you are sure that a year he will only be able to do two or three projects, despite the other delays.”