ACEP Senegal SL (IFC-39371)

Countries
  • Senegal
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.
Borrower
UNION DES MUTUELLES ALLIANCE DE CREDIT ET D'EPARGNE POUR LA PRODUCTION
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)
$ 6.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported XOF 4 billioin
Converted using 2017-04-27 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 24, 2017

Disclosed by Bank Apr 27, 2017


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Project Description
The project aims at supporting the growth of Union des Mutuelles Alliance de Credit et d'Epargne pour la Production (UM-ACEP) Senegal, a successful microfinance institution in Senegal, in expanding its lending operations in the agri-finance and MSME space. The proposed project consists of a local currency 4-year senior loan of up to XOF4 billion. 50% of the facility is expected to be on-lent to MSMEs in the agriculture sector. The project includes a possible mobilization of resources from the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism to support sustainable agriculture in developing countries.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
UM-ACEP Senegal Mr Mayoro LOUM Managing Director +221 33 869 75 50 Avenue Bourguiba x Blvd Dial DIOP - BP 5817 - Dakar - Senegal ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/