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With Banque Atlantique, Proparco is financing women’s entrepreneurship in Mali
Project
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Signature date
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Location
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Mali
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Financing tool
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Financing amount (Euro)
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762245,09
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Financing details
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XOF 500m guarantee covering a loan portfolio of XOF 1bn (about EUR 1.5m)
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Customer
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BAML
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Type of customer
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Financial institution
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Country of headquarters
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Mali
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Project number
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CML1484
This project is carried out with the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS) and is part of the 2X Challenge initiative.
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 and the ACP Group. This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a EURIZ guarantee to Banque Atlantique, which has committed to finance Malian SMEs owned by women in all sectors.
Client presentation
Banque Atlantique is a subsidiary of Banque Centrale Populaire du Maroc (BCP) Group. It has been operating in Mali since 2005 and has a network of 23 branches. It is the 3rd largest banking group in the WAEMU zone in terms of market share and operates in eight member countries of the Monetary Union (Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo).
Project description
Proparco’s allocation of a XOF 500m (EUR 760m) EURIZ portfolio guarantee to Banque Atlantique will allow the bank to increase its financing activity for Malian SMEs that are mainly owned by women. The guarantee will share the risk related to financing microenterprises and small and medium-sized enterprises (MSMEs), which will increase the bank’s capacity to finance the local economy. The EURIZ guarantee was launched in May 2019 with support from the European Union and European Development Fund, and the African, Caribbean and Pacific (ACP) Group of States. It aims to facilitate access to credit for MSMEs and help them play their essential role in economic growth and job creation.
Project impact
This operation demonstrates the priority given by PROPARCO to supporting the private sector in fragile countries, in particular in high-impact sectors. By supporting women entrepreneurs, this project is contributing to promoting gender equality (SDG n° 5 – Gender equality) and is part of the 2X Challenge, the multilateral initiative to strengthen the economic role of women in developing countries.