The purpose of the investment is to help BCN increase access to finance to small and medium enterprises (“SMEs”), including women-owned SMEs requiring long term finance, and to help the Bank grow its trade finance business. The proposed investments consist of a 5-year senior loan of up to EUR5.0 million and a Trade Line of up to US$2.0 million.
The proposed ivestments consist of: (i) a 5-year senior loan of up to EUR5.0 million equivalent to US$5.9M, 25% (EUR1.25m, or US$1.5m) of this senior loan will be carved out for financing to Women owned SMEs; and (ii) a Trade Line of up to US$2.0 million to BCN.
BCN’s main sponsor is IMPAR, a leading Cape Verde insurance company controlling 43.5% market share. BCN’s shareholders are IMPAR (51.7%), SEPI (43.9%) and Cape Verde Red Cross (CVCR) (4.4%).
BANCO CABOVERDIANO DE NEGOCIOS
Ana Carvalho Vicente
Director, Finance & International Management
Ave. Amilcar Cabral, CP n.º97, Praia
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