SIB SME RSF II (IFC-41091)

Countries
  • Ivory Coast
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
Proposed
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
May 25, 2018
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
SIB SME RSF II
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.
Ring Fence
  • Small & Medium Enterprises
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Amount (USD)
$ 19.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 38.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 20, 2018

Disclosed by Bank Apr 23, 2018


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Project Description
Project Description

 The proposed project consists of an up to XOF10 billion (c.US$19 million) risk sharing facility ('RSF') with Societe Ivoirienne de Banque Cote d’Ivoire ('SIB' or 'the Bank') on a portfolio of up to XOF20 billion (c.US$38 million) to help SIB continue scaling-up its small and medium size enterprises ('SME') and agribusiness value chain lending in Cote d’Ivoire.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship

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.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Abraaj Invest Mgmt Ltd Parent Company Industry and Trade owns Egyptian Fertilizers Co SAE Client Industry and Trade
Africa50 Parent Company Energy owns Nachtigal Hydro Power Plant (420MW) PPP Client Energy
Attijariwafa Bank Investor Finance invests in Abraaj Invest Mgmt Ltd Parent Company Industry and Trade
Attijariwafa Bank Investor Finance invests in Africa50 Parent Company Energy
Attijariwafa Bank Investor Finance invests in Averda Holding Ltd Parent Company Water and Sanitation
Attijariwafa Bank Investor Finance invests in EDF Parent Company Energy
Attijariwafa Bank Investor Finance invests in Egyptian Fertilizers Co SAE Client Industry and Trade
Attijariwafa Bank Investor Finance invests in Egyptian Gen Petro Corp Parent Company Mining
Attijariwafa Bank Investor Finance invests in ENGIE Parent Company Energy
Attijariwafa Bank Investor Finance invests in Ghana Cocoa Board(Ghana) Parent Company Agriculture and Forestry
Attijariwafa Bank Investor Finance invests in Government of Cameroon Parent Company Energy
Attijariwafa Bank Investor Finance invests in Gunvor Group Ltd Parent Company Mining
Attijariwafa Bank Investor Finance invests in International Finance Corporation Parent Company Energy
Attijariwafa Bank Investor Finance invests in Managem Group Parent Company Mining
Attijariwafa Bank Investor Finance invests in Mizuho Financial Group Parent Company Energy
Attijariwafa Bank Investor Finance invests in Nachtigal Hydro Power Plant (420MW) PPP Client Energy
Attijariwafa Bank Investor Finance invests in Orascom Construction Industries Parent Company Energy
Attijariwafa Bank Investor Finance invests in Palm Hills Developments Co SAE Parent Company Industry and Trade
Attijariwafa Bank Investor Finance invests in Ras Ghareb Wind Energy Sae Client Energy
Attijariwafa Bank Investor Finance invests in Ras Ghareb Wind Farm (262.5MW) Client Energy
Attijariwafa Bank Investor Finance invests in Societe Generale Parent Company Energy
Attijariwafa Bank Investor Finance invests in STOA Investment Fund Parent Company Energy
Attijariwafa Bank Investor Finance invests in Toyota Group Parent Company Energy
Attijariwafa Bank Investor Finance invests in Toyota Tsusho Corp Parent Company Energy
Attijariwafa Bank Investor Finance invests in Tri K Gold Mine Client Mining
EDF Parent Company Energy owns Nachtigal Hydro Power Plant (420MW) PPP Client Energy
ENGIE Parent Company Energy owns Ras Ghareb Wind Farm (262.5MW) Client Energy
Government of Cameroon Parent Company Energy owns Nachtigal Hydro Power Plant (420MW) PPP Client Energy
International Finance Corporation Parent Company Energy owns Nachtigal Hydro Power Plant (420MW) PPP Client Energy
Managem Group Parent Company Mining owns Tri K Gold Mine Client Mining
Mizuho Financial Group Parent Company Energy owns Ras Ghareb Wind Farm (262.5MW) Client Energy
Orascom Construction Industries Parent Company Energy owns Ras Ghareb Wind Farm (262.5MW) Client Energy
Societe Generale Parent Company Energy owns Ras Ghareb Wind Farm (262.5MW) Client Energy
STOA Investment Fund Parent Company Energy owns Nachtigal Hydro Power Plant (420MW) PPP Client Energy
Toyota Group Parent Company Energy owns Ras Ghareb Wind Farm (262.5MW) Client Energy
Toyota Tsusho Corp Parent Company Energy owns Ras Ghareb Wind Energy Sae Client Energy

Contact Information

Societe Ivoirienne de Banque S.A. (Groupe Attijariwafa Bank)
Bakary Yeo
Director for SMEs
+225 20 20 00 15
bakary.yeo@sib.ci
34 bd Republique,Immeuble Alpha 2000
www.sib.ci

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/