The International Finance Corporation (IFC), a subsidiary of the World Bank specialized in financing the private sector, has signed with Afriland first Bank, the leader of Cameroun banking market in Douala, the economic capital of the country, a funding agreement amounting to $ 15 million (about 8.2 billion CFA francs).
With this funding, IFC will provide Afriland First Bank guarantees for transactions related to trade, for better coverage of flows of importers and exporters by the correspondent banks, thereby strengthening their international competitiveness. Note that this financing agreement with IFC came after signature, June 17, 2015 in Beijing, China, of a funding agreement between Afriland First Bank and China Development Bank Corporation, for a total of 26.2 billion fCFA.
Afriland first Bank boasts a network of 38 agencies in Cameroon and two representations in France and China.