The proposed transaction consists of up to US$85 million of un-funded IFC risk participation in an approximate US$2 billion global portfolio of predominantly emerging markets trade finance-related credit assets of Crédit Agricole CIB, the Corporate & Investment Banking arm of Crédit Agricole S.A, (“CACIB”). According to IFC,  the "risk participation will support further growth in CACIB’s trade finance and social projects in emerging markets."


Crédit Agricole CIB, the Corporate & Investment Banking arm of Crédit Agricole S.A, (“CACIB”), offers its clients worldwide a broad range of products and services in capital markets, investment banking, and commercial banking. The bank has a comprehensive and growing business franchise in many emerging markets.


The proposed transaction is expected to have a tenor of up to 5 years and consists of up to US$85 million of un-funded IFC risk participation in an approximate US$2 billion global portfolio of predominantly emerging markets trade finance-related credit assets on CACIB’s balance sheet. This risk participation will support further growth in CACIB’s trade finance and social projects in emerging markets.

 The proposed IFC investment is up to US$85 million in the form of an un-funded risk sharing facility.  

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

 CACIB, with a staff over 10,000 employees in 32 countries, is fully-owned by Crédit Agricole S.A., the second largest banking group in France in terms of total assets. CACIB is committed to sustainable finance. Since 2015, it has excluded the financing of new coal-fired plants anywhere in the world, and it is also committed to strongly contribute to the Crédit Agricole’s commitment to mobilize more than EUR 100bn in Green financing by 2020 CACIB is a leading player in the Green, Social and Sustainability Bond market: CACIB structured more than eq. US$50bn of Green, Social and Sustainability Bonds (more than 40% of 2017 international public issuances worldwide) and tops the Green, Social and Sustainability Bond league table 2017 (source : Bloomberg). It enjoys international recognition and was awarded the Overall Most Impressive Bank for Green/SRI Capital Markets  for the 4 ^th  year running. Likewise, CACIB contributes to the fight against climate change within the context of the five “Mainstreaming Climate Action” principles launched during the 2015 United Nations Climate Change Conference.  

CACIB 
Credit Portfolio Management, Pascale Olivie 
Head of Structuring, Research & Asset Allocation 
12 Place des Etats-Unis, 92120 Montrouge, France 
https://www.ca-cib.com/ 

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/