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Offering financing to Ivorian 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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1800000
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Financing details
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XOF 1,180,722,600 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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Project number
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CCI1862
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has partnered with Ecobank RCI to support the Ivorian SME fabric affected by the Covid-19 crisis.
Client presentation
Ecobank Group is one of the main pan-African banking groups. The bank came about through the will of African businessmen to establish a bank to support Africa’s economic growth. The bank started its activities by opening a first subsidiary in Togo in 1988. It subsequently developed in West Africa in the 1990s, with the opening of subsidiaries in Nigeria, Benin, Ghana and Burkina Faso.
Project description
Proparco has signed a partnership with Ecobank RCI, on behalf of AFD, under the Choose Africa Resilience program. The objective is to allow Ecobank RCI to provide financing to financially sound small and medium-sized enterprises to cover their working capital needs, for a total amount of XOF 1,180,722,600 (EUR 1.8m).
Project impact
This new offer will allow Ecobank RCI to supply the economic fabric of SMEs in the country with short-term financing, in addition to investment loans.