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Supporting responsible financial inclusion in Burkina Faso

Project

Signature date
Location
Burkina Faso
Financing tool
Loan
Financing amount (Euro)
3000000
Financing details
XQF 1,967,871,000 loan
Customer
ACEP BURKINA FASO
Type of customer
Microfinance
Country of headquarters
Burkina Faso
Project number
PBF1025
Environmental and social ranking
IF-C
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This project is carried out with the support of the European Union.

Legal notice EU (project)

The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union. This information is given at the time of signature, without prejudice to any developments in the operation/project.

With support from the European Union, Proparco has allocated financing to ACEP Burkina Faso, a responsible microfinance institution.

Client presentation

ACEP Burkina Faso (ACEP BF), from ACEP Group, is one of the largest microfinance institutions in the country in terms of portfolio and the number of borrowers. ACEP BF, which has been operating since 2012, offers financial and non-financial products and services to MSMEs in urban and periurban areas of the country. Its objective is to support their economic and social growth.

Project description

The project involves the allocation of a credit line in local currency equivalent to EUR 3m. This credit line benefits from the EFSD Guarantee, a risk-sharing mechanism for microentrepreneurs and MSMEs set up by the European Union in response to the Covid-19 crisis.

This project is part of Proparco's and CDP's response plans to the crisis caused by Covid-19. As such, it benefits from guarantees from the European Union's External Investment Plan (EFSD) designed to support small businesses affected by the crisis and encourage local banks to finance them more.

Project impact

This project should support some 1,250 jobs and give some 650 beneficiaries access to microcredit. The project will contribute to SDGs 1 (“No poverty”) and 8 (“Decent work and economic growth”).