BNI AGRICULTURE & COCOA & YOUTH EMPLOYMENT MBIL

The Multi Beneficiary Intermediated Loan (MBIL) to Banque Nationale d"Investissement (BNI) will enhance access to finance to eligible small and medium sized enterprises (SMEs) and mid-caps in the agriculture value chain, in particular in the sustainable cocoa sector, as well as to those supporting youth employment in the Ivory Coast.

The aim is to finance investments in agriculture value-chains (60% contractual target) and support youth employment (50% contractual target), in line with the "Agriculture and Food Systems Sustainability priority" as well as with the EU Multiannual Indicative Plan (MIP) 2021-2027 aiming at "contributing to the employability of young people. By focusing specifically on sustainable cocoa (30% contractual target), a Team Europe flagship initiative in the country, the MBIL will facilitate access to finance to agri-food SMEs and smallholder producers, often facing obstacles and lacking information when applying for funding, and therefore fill a gap in this market segment. Targeting businesses led and/or founded by young entrepreneurs or employing at least 40% of young people is in line with the MIP objective of "supporting private investment, particularly around sustainability issues, and policies that create quality jobs for young people".

The intermediary has to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the sub-projects receiving BNI's financing will comply with national legislation and the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country, in particular ILO Conventions 138 (Minimum age) and 182 (Worst forms of child labour). By promoting the financial inclusion of agriculture value chain actors and SMEs, the project will deliver significant positive social outcomes through its thematic focus on the sustainable cocoa sector and youth employment. Moreover, support to food value chains under the scheme can contribute to increased self-reliance and therefore reduce vulnerability to external shocks.

The intermediary has to take all requisite measures to ensure that any procurement procedures carried out by the final beneficiaries are in accordance with the EIB's Guide to Procurement.

Under EFSD+ Guarantee