Browsing: World Bank’s MSME Business Development Project

• The 3.9 million Euro donation will go towards the World Bank’s MSME Business Development Project in Djibouti, which provides MSMEs business support
• It is believed that barely 5% of the Djibouti’s formal firms receive bank financing
• Financial institutions, public institutions, and MSMEs-supporting programmes are among the intermediate beneficiaries

The World Bank and the European Union Delegation in Djibouti signed an Administration Agreement on behalf of the European Union to help Djibouti’s Micro, Small, and Medium-Sized Enterprises grow (MSMEs).

The 3.9 million Euro donation will go toward the World Bank’s MSME Business Development Project in Djibouti, which provides MSMEs with services such as digitisation, improved accounting procedures, credit applications, business planning, and legal and marketing strategies.

It will also help create a virtual “one-stop-shop” where MSMEs can apply for permits and other services all in one spot. The European money will be channelled through the MENA Regional Umbrella Multi-donor Trust Fund …