RSF Benin Tourism (IFC-38159)

Countries
  • Benin
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 31, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
RSF Benin Tourism
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 25, 2017

Disclosed by Bank Dec 7, 2016


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Project Description
The proposed project is a risk sharing facility (RSF or “the Facility”) with potentially two participating banks, namely Bank of Africa Benin SA (“BoA Benin”) and Ecobank Benin SA (“the Banks”). Under the RSF, the Banks will build, over an agreed period of time, a portfolio of eligible SME loans for a total amount of up to US$40 million. Up to a third of the maximum size of the target SME loan portfolio will be expected to relate to the tourism sector with a focus on SMEs along the value chains of hotels. IFC will cover up to 50% of losses on each participating bank’s eligible SME portfolio. IFC’s maximum exposure will be up to US$20 million. The proposed project will have a capacity building component, whereby eligible SMEs will be trained on various subjects including the development of business plans, basic accounting & cash management, operational efficiency, with the view to equip them to have a more successful relationship with banks.The participating banks will also be supported through advisory activities that will seek to strengthen the banks' ability to sustainably service the SME segment. The advisory services component of the project will be implemented jointly by IFC and the World Bank.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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