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Supporting imports in Côte d'Ivoire and SMEs
Project
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Signature date
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Location
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Côte d'Ivoire
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Financing tool
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Financing amount (Euro)
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19000000
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Financing details
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EUR 19m guarantee
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Customer
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Coris Bank Côte d'Ivoire
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Type of customer
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Financial institution
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Country of headquarters
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Côte d'Ivoire
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Project number
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PCI1190
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
The guarantee package allocated by Proparco will allow Coris Bank International Côte d’Ivoire to strengthen its import finance activity in Côte d’Ivoire.
Client presentation
Coris Bank International Côte d’Ivoire is a subsidiary of Coris Group, which was founded in Burkina Faso by Idrissa Nassa in 2008 and now operates in nine West African countries. Coris Bank International Côte d’Ivoire has been experiencing strong growth since it was set up in 2013 and stands out for its strong focus on financing the private sector.
Project description
The EUR 19m guarantee package allocated by Proparco will allow Coris Bank International Côte d’Ivoire to strengthen its import finance activity in Côte d’Ivoire, which is essential for the functioning of the Ivorian economy.
By guaranteeing these instruments among its panel of correspondent banks, Proparco is helping Coris finance imports of goods that are essential for the development of Côte d’Ivoire’s economy, such as agricultural commodities, capital goods and medical goods.
This facility will also allow Coris to strengthen its support services for local SMEs which will be able to benefit from new sources of financing.