Loan to NSIA Banque: Supporting Côte d’Ivoire’s private sector by financing the development of a local bank

NSIA Banque CI is owned almost 70% by the NSIA Bancassurance Group. With a total balance sheet of some EUR 1.3bn at the end of December 2016, NSIA Banque CI is in fourth place on a rapidly developing market in Côte d’Ivoire.

PROPARCO has allocated a EUR 25m senior loan to finance the bank’s medium and long-term activities and thereby support the implementation of the bank’s growth strategy.

The financing of technical assistance will support the bank in the implementation of an environmental and social risk management system with the adoption of practices recognized by international standards. This financing has been mobilized from the Management Capacity Building Fund (FRCG) managed by AFD.

The project will support a key player in Côte d’Ivoire’s economy for the expansion of its activities and will make a significant contribution to financing Côte d’Ivoire’s private sector. Indeed, while most banks in Côte d’Ivoire are highly liquid in the short term, long-term resources are scarce. Furthermore, impacts are expected on the rate of use of banking services, the mobilization of savings, and on the diversification and increase in the allocation of loans in the country.