Efforts to strengthen financing for micro, small and medium-sized enterprises in Mozambique have received a new boost. Millennium bim has formalised its accession to the Portuguese Cooperation Business Fund (FECOP), in an initiative aimed at expanding access to credit and strengthening the national business fabric.
The bank's entry into this mechanism broadens the financial instruments available to support companies with growth potential, at a time when the business sector continues to play a central role in driving the Mozambican economy.
FECOP works as a risk-sharing mechanism, designed to make it easier for micro, small and medium-sized enterprises to obtain bank financing. The model currently in force introduces significant improvements, including a broader range of eligible segments, stronger risk-mitigation mechanisms and more favourable conditions for supporting business projects with the capacity to expand. The aim is to increase companies' competitiveness and strengthen the national productive sector.
By joining the fund, Millennium bim will offer a broader set of solutions to support initiatives capable of creating jobs, raising productivity levels and contributing to the sustainable development of the Mozambican economy.
For Liliana Catoja, Executive Director of Millennium bim, the role of SMEs remains decisive for the country's economic growth.
“Micro, small and medium-sized enterprises play a decisive role in economic growth and job creation in Mozambique. By making it easier to access financing solutions tailored to their needs, we are helping them to invest, expand their activity and strengthen their competitiveness, having a positive impact on the economy and on the communities where they operate,” she said.
The initiative is part of Millennium bim's strategy of strengthening support for the Mozambican business sector, promoting financial solutions geared towards investment, job creation and the building of more inclusive and sustainable economic growth.
