NEW PRODUCT
“EXCEPTIONAL DEPRECIABLE CASH”
On July 6, 2020, the Ministry of Economy and Finance, responsible for Industry, created within the Djibouti Guarantee Fund (FOGAD) a new product entitled Exceptional Amortizable Cash Credit.
This new product aims to allow exceptional bank financing for the benefit of companies whose cash flow is negatively impacted by the Covid-19 health crisis.
This is a guarantee that covers 75 % of the amount of credit granted.
The annual rate negotiated with all banks is 4.25 %.
This guarantee will give the banks signatory to the partnership agreement dated September 8, 2019 a solid mechanism to quickly and easily finance the companies concerned in order to allow them to cover current charges that cannot be postponed or suspended by them.
It is undoubtedly a real support from the President of the Republic and his Government to allow the Small and Medium Enterprises or Industries (TPME / TPMI) concerned to overcome this difficult stage and thus protect themselves from an economic and social crisis. unprecedented in our country.