|Approval Date||23 Nov 2016|
|Signature Date||14 Jul 2017|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
This project consists in providing Coris Bank International (CBI) with a € 38 million credit line in medium and long-term resources and supporting it in its expansion process. The project is expected to increase CBI's medium and long-term financing capabilities to its preferred clientele of Small and Medium-sized Enterprises / Small and Medium Industries (SMEs / SMIs) by improving the level of its coverage ratio long-term jobs by resources of the same nature. Thus, the funds will be used primarily to finance the capital needs of 45 companies including 33 SMEs / SMIs operating mainly in the sectors of agricultural products processing and services (health, education, security) and 3 Microfinance Institutions (MFIs). In addition, the project will help combat youth unemployment, which is generally one of the main factors of political and social instability.
The objective of the project is to strengthen the financial base of the CBI through the provision of long-term resources to facilitate access to medium and long-term credit for Burkinabè private sector enterprises.
The main beneficiaries of the project are Small and Medium Enterprises / Small and Medium Industries (SMEs / SMIs) and MFIs. In addition, it will benefit the Burkinabè Government through (i) the additional taxes and levies on income collected from enterprises receiving financing provided by the ADB and (ii) dividends paid to parastatals, additional taxes payable by the IWC itself.
African Development Bank
|Last Update||31 Oct 2019|