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Signature(s)

Amount
€ 24,398,899.83
Sector(s)
Credit lines : € 24,398,899.83
Signature date(s)
21/03/2016 : € 6,099,724.96
21/03/2016 : € 18,299,174.87
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Summary sheet

Release date
12 June 2015
Status
Reference
Signed | 21/03/2016
20150141
Project name
Promoter - financial intermediary
RST ECOBANK GROUP PORTFOLIO GUARANTEE
Ecobank Transnational Incorporated
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 28 million (EUR 25 million)
USD 106 million (EUR 95 million)
Location
Sector(s)
Description
Objectives

The project consists of a risk-sharing transaction (RST) with the Ecobank Group covering a number of its subsidiaries in Africa and a total portfolio of short and medium-term loans to small and medium-sized enterprises (SMEs) of up to USD 110m. The operation will be implemented under the SME Guarantee Facility (Regional ACP) with the EIB and IFC as co-guarantors.

The risk-sharing transaction will enable and encourage Ecobank to grow its SME loan portfolio and specifically to increase its local currency lending activities in this business segment. By contributing to improved access to finance for SMEs, the project will support job creation and promote more inclusive and balanced growth in the targeted countries.

Environmental aspects
Procurement

Under the terms of the risk-sharing transaction to be entered into, the selected banks will be requested to ensure compliance of their SME lending operations with a harmonised set of policy requirements, including EIB requirements on environmental issues.

Under the terms of the risk-sharing transaction to be entered into, the selected banks will be requested to ensure compliance of their SME lending operations with a harmonised set of policy requirements, including EIB requirements on procurement.

Comments

Further detailed information can be accessed via the following link to the IFC website publication: http://ifcextapps.ifc.org/ifcext/spiwebsite1.nsf/651aeb16abd09c1f8525797d006976ba/6969e5a72f38fb3385257e07005cc60c?opendocument

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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