VISTA - RISK SHARING FACILITY FOR SMES

Projektträger – zwischengeschaltetes Finanzinstitut

VISTA GUI SA

Ort

• Regionalvorhaben - Afrika

Beschreibung

This facility will provide a Partial Portfolio Guarantee (PPG) to Vista Gui to support eligible investments by small and medium sized enterprises (SMEs) in Guinea, a country designated by the United Nations (UN) as one of the Least Developed Countries (LDCs). In a second phase, the facility may be extended to Burkina Faso, Sierra Leone and The Gambia, three other LDCs in West Africa. This operation will contribute to economic resilience and employment generating activities in the region, in a context of heightened risk and vulnerability. It is conducted under the SME Access to Finance Initiative supported by the European Fund for Sustainable Development (EFSD) under the EU's External Investment Plan. It is proposed following the decision of the European Commission, at the end of 2023, to include the LDCs among the priority areas where all loans to eligible SMEs can benefit from an enhanced guarantee. This is one of the last operations presented under the EU Mandate EFSD Guarantee "Access to Finance Initiative", a mandate received from the European Commission (EC) which covers capped guarantees provided by EIB to selected financial intermediaries for portfolios of SME financing. The EC proposed to redirect and accelerate some of the operations under the EFSD Guarantee by increasing and prioritising those supporting the SME sector to provide an immediate response after the outbreak of the Covid-19 pandemic crisis and to alleviate its socio-economic consequences in the EU Neighbourhood and Sub-Saharan Africa. Against the backdrop of heightened risk and vulnerability in the geographies targeted by the SME Access to Finance Initiative, at the end of 2023 the EC and the EIB agreed to extend the enhanced guarantee to all eligible SMEs in priority areas, which include LDCs, Burkina Faso, Guinea, Sierra Leone and The Gambia. The facility's main added-value lies in the fact that SMEs operating in these fragile countries face various obstacles and uncertainty, making it almost essential to go through the intermediary of a commercial bank, as opposed to directly lending to SMEs or through a Government-linked entity.

Ziele

The aim is to bolster SMEs investments in the targeted countries. The EIB will commit to sharing risks over an extended duration, enabling Vista Gui in Guinea and potentially other banking subsidiaries of the same group in Burkina Faso, Sierra Leone and The Gambia to expand their lending activities in underserved market segments, securing loans to SMEs with an 80% guarantee, up to 20% of a portfolio of maximum EUR 80,000,000. This operation will enhance economic resilience, foster job creation and address market failures resulting from imperfect information, which pose barriers for SMEs seeking financial support.

Sektor(en)

• Durchleitungsdarlehen - Durchleitungsdarlehen

Vorgeschlagene EIB-Finanzierung (voraussichtlicher Betrag)

EUR 13 million

Gesamtkosten (voraussichtlicher Betrag)

EUR 80 million

Umweltaspekte

Vista Gui shall take all the requisite measures to ensure that the procedures, including procurement procedures, carried out by the final beneficiaries (SMEs) comply with the applicable national legislation and ElB's Environmental and Social Standards as well as with international treaties and conventions signed and ratified by or otherwise applicable and binding in the targeted countries.

Auftragsvergabe

Vista Gui shall take all requisite measures to ensure that any procurement procedures carried out by the Final Beneficiaries (SMEs) comply with the EIB's Guide to Procurement.

Projektstatus

In Prüfung