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An ARIZ portfolio guarantee to support Djiboutian microenterprises
Project
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Signature date
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Location
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Djibouti
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Financing tool
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Financing amount (Euro)
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1500000
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Financing details
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DJF 301,649,685 guarantee
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Customer
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BCIMR
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Type of customer
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Financial institution
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Country of headquarters
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Djibouti
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Project number
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CDJ1117
This information is given at the time of signature, without prejudice to any developments in the operation/project.
The operation involves the allocation of an ARIZ SME guarantee (EUR 1.5m) to BCIMR. It is part of the “Resilience” component of the Choose Africa initiative which aims to support African start-ups, microenterprises and SMEs affected by the Covid-19 crisis.
Client presentation
La Banque pour le Commerce et l’Industrie Mer Rouge (BCIMR) is a subsidiary of the French bank BRED Banque. It is a leading bank in the Republic of Djibouti in terms of loans and deposits, particularly in the corporate segment. It actively participates in financing public infrastructure (loans to the State and public enterprises) and private sector financing (large and medium-sized companies).
Project description
The DJF 1.5m portfolio guarantee will support BCIMR’s strategy to increase its loans to Djiboutian microenterprises and small businesses.
Project impact
The deployment of the guarantee should support 45 microenterprises and create or maintain 135 jobs.