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Portfolio guarantees to support Ecobank Côte d'Ivoire’s SME finance activity
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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4800000
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Financing details
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XOF 3,148,593,600 guarantee
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Customer
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ECOBANK RCI
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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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CCI1859
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated two ARIZ and EURIZ portfolio guarantees to Ecobank Côte d'Ivoire to support financing for Ivorian SMEs.
Client presentation
A subsidiary of the pan-African banking group Ecobank Transnational Incorporated (ETI), Ecobank Côte d’Ivoire (Ecobank CI) is a commercial bank with a nationwide network of 43 branches, including 26 branches in Abidjan and 17 branches in the rest of the country. It is today one of the leaders on the Ivorian banking market.
Project description
The project involves the allocation of two ARIZ and EURIZ portfolio guarantees.
The ARIZ guarantee aims to share the credit risk taken by Ecobank CI in the segment of small and medium-sized enterprises (SMEs) through loan operations. The objective is therefore to support growth in the activity of Ivorian SMEs. It is the first ARIZ portfolio guarantee allocated to Ecobank CI and comes in addition to the PLFR3-1 and PLFR3-2 guarantees signed in December 2021.
Project impact
The ARIZ guarantee automatically covers 50% of each loan granted by the bank to eligible SMEs during the two years of allocation, meeting the criteria for the amount and maturity.