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New Article - More Details on Sonibank Financing

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Signing the partnership agreement 'Sonibank Department of Transportation' ': Facilitate carriers buy new vehicles

The Department of Transportation and Sonibank signed last Friday a partnership agreement to facilitate carriers purchase new vehicles. It is the Minister of Transport, Mr. Saley Saidou and the Director General of the Sonibank who have signed the document of agreement at a ceremony held in the boardroom of the NSSF building in the presence of the Minister of Equipment, the Minister Responsible for Industrial Development, the representative of the Delegation of the European Union and the representative of the French Development Agency (AFD).
At the start of the ceremony, a minute of silence was observed in memory of the Deputy Director of the Sonibank, who died last week. In his speech, the Minister of Transport, Mr. Saley Saidou thanked the EU for its support in the design and implementation of the fleet renewal system of public transport vehicles. He also thanked the Sonibank who agreed to put in place an appropriate mechanism for funding the benefit of carriers of Niger.
According to Mr. Saley saidou is to specifically address the challenges of the age of the public transport fleet of freight and the affected public passenger transport, the Government is firmly committed to a policy of reform and modernization of the transport sector to ensure greater competitiveness of the economy. Indeed, he recalls, the average age of tractors is estimated at 23 years, that of semi-trailers to 29 and that of trucks to 25 years. "This aging fleet is due to traffic accidents, increase in transportation costs and pollution source. In addition, the road transport sub-sector remains characterized by the existence of small-carriers operating a three vehicles, poorly supervised and evolving in an informal economy and whose access to bank credit is very limited, "said the Minister Saley Saidou.

It is in this context that the Department of Transportation has implemented since 2013 a Renewal Project of the public transport fleet with the support of the Institutional support to the 10th EDF road program. This proposed renewal of the fleet of public transport, is targeted in the Declaration of General Policy of the Prime Minister, the Economic and Social Development Plan and National Transport Strategy. It is also the main measure of Community policies against overload practices of heavy vehicles and for the preservation of the country's road assets.
Also, the Law on Investment Code of the Republic of Niger adopted in April 2014, has been targeted as the main instrument for funding for the renewal of the public transport fleet in Niger. This code provides for measures total exemption from customs duties (DD) and value added tax (VAT) including the acquisition of public transport of goods to new, up to at least five (5) trucks, and parts in a proportion of 20% of the value of each truck. These exemption measures also apply in the context of the acquisition of public passenger transport in new condition, up to ten (10) as well as parts in a proportion of 10% of the value of each bus.
"The overall objective is to improve the competitiveness of road transport activities of goods and hydrocarbons, and the quality of services for passenger transport. Already, several carriers have enjoyed the benefits of code for which more than 297 transport vehicles were purchased "said the Minister of Transport. He noted that, pending the establishment of the Single Window, several applications for approval to the benefit of the Investment Code were registered at the Ministry of Industrial Development for the acquisition of more than 814 vehicles transport of goods and travelers.
On the other hand, for the continuation of the implementation of all planned activities, several draft texts were developed for the sustainable financing of the project. In addition, the professionalization of carriers and consolidation of carriers craftsmen GIE were privileged. According to the Minister of Transport, it was recorded to date, creating more than 13 GIE transport who have expressed a need for more than 600 vehicles and applications for vehicle procurement continue to be recorded at the project management unit.
Also, Mr. Saley Saidou explained that as part of the research project financing, business dealings with local banks in order to obtain their support by granting loans to preferential rates and longer terms included culminated in the signing of agreements with other banks. "For my part, I can assure you that the government is firmly committed to the research beneficial partnership for the establishment of appropriate funding mechanisms of the renewal of the public transport fleet in Niger" a-t- he said before calling the private sector and financial institutions room for more funding and much more suitable conditions, the acquisition of public transport of new vehicles.
For his part, the Director General said that Sonibank 'by agreeing to support the State in its car fleet renewal policy, the institution is in its mission and is doing his job. "We had to manage several such lines of credit. We assist the State in the financing of the economy and you can count on us for any other agreement and of any type whatsoever "he added. Samira Sabou