Advans Banque (Congo)


Project Summary

Approval Date 04 Feb 2008
Signature Date 24 Nov 2008
Planned Completion Date 31 May 2014
Last Disbursement Planned Date 31 Dec 2013
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 610,389.61
Status Completion

Project General Description

This project relates to the creation of Advans Banque Congo (ABC). It's designed in the context of the Government's development objectives, aimed at supporting the establishment of sustainable inclusive financial systems in the DRC for the benefit of all. It should have the status of an entirely new microfinance bank providing financial services to low-income populations in the DRC. In five years, ABC is expected to have more than 20,000 active customers and a loan portfolio of approximately US $ 26 million. For a start, ABC should offer micro and small entrepreneurs, four simple but proven products: (i) group loans: amount limited to US $ 1,500 per borrower member of the group and repayable over a maximum of 12 months; (ii) individual loans to be used as working capital: amount limited to US $ 15,000 and repayable over a maximum of 12 months; (iii) individual loans for fixed assets and (iv) loans to SMEs: amount limited to € 15,000 and repayable over 24 months maximum.

Project Objectives

The objective of the project is to provide a wide range of financial services suitable for micro, small and medium enterprises (MSMEs) as well as other low-income clients.

Beneficiaries

The final beneficiaries of the project are the economically active poor, micro and small enterprises, group and cooperative loans and commercial banks.

Participating Organization

Funding
Fund for African Private Sector Assistance
Implementing
Advans Banque Congo (ABC)

Information

IATI identifier 46002-P-CD-HA0-001
Last Update 31 Oct 2019

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Contact Details

Email fapa@afdb.org

Geographic Location

Country Congo, the Democratic Republic of the