|Approval Date||22 Sep 2021|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present intervention is related to a EUR 50 million financing to support NSIA Banque Côte d’Ivoire (NSIA CI) in its strategy to support local SMEs. The partnership has three components: (1) a EUR 25 million subordinated loan; (2) a EUR 10 million trade finance line; (3) a maximum guaranteed amount of EUR 15 million as portfolio guarantee envelope which is a partial credit guarantee dedicated to women's businesses. The project will participate in improving the inclusiveness of growth given the targeting of labour-intensive sectors and improving access to finance for underserved businesses, especially SMEs, women-owned and youth-owned businesses. The project will achieve good development outcomes mainly through (i) private sector development through improved lending capacity for NSIA CI and increased access to finance for its customers, including SMEs; and (ii) gender and social effects given the expected financial support for businesses headed or owned by women, and the contribution to sub-projects based in rural zones.
The project objective is to increase the processing of local products, promote energy efficiency solutions and foster the empowerment of women.
The beneficiary of the project is NSIA Banque CI, whose capital will be strengthened to enable it to accelerate the diversification of its SME client portfolio. These are SMEs in the agriculture and agro-processing sectors and those investing in energy efficiency solutions.
African Development Bank
|Last Update||04 Dec 2021|