ABI SME RSF (IFC-41251)

Regions
  • Africa
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
FI
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
Atlantic Business International (ABI Group RSF)
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)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 27, 2019

Disclosed by Bank May 16, 2018


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Project Description

According to IFC website, the proposed project entails the provision of a 5-year Risk Sharing Facility in the amount of up to EUR40 million to cover eight subsidiaries of Atlantic Business International in IDA and FCS countries – namely Banque Atlantique Benin, Banque Atlantique Burkina Faso, Banque Atlantique Côte d’Ivoire, Banque Populaire Maroco-Guineenne in Guinea, Bank Atlantique Mali, Banque Atlantique du Niger, Banque Atlantique Senegal and Banque Atlantique Togo, together the Participating Affiliates for a target portfolio of SME loans in the amount of up to EUR80 million equivalent. Under this project, IFC will be supporting the expansion of ABI’s SME lending across Sub-Saharan Africa. 

The project aims to increase access to finance for SMEs. It seeks to foster banking sector inclusiveness across the countries where ABI is present by supporting the Group in its ambition to grow the amount of credit and types of banking products extended to SMEs. Increased access to finance is expected to help generate private sector growth by creating and/or maintaining employment opportunities. Further, ABI Group's alignment with IFC's environmental and social standards is expected to ultimately benefit the borrowing SMEs and the communities they operate in.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • Atlantic Business International -- Financial Intermediary

ABI’s main shareholder is Banque Centrale Populaire (68.3%), a leading cooperative banking group headquartered in Casablanca, Morocco, with total assets of US$41 billion and consolidated shareholders’ equity of US$4.3 billion as of December 31, 2017. BCP is listed on the Casablanca Stock Exchange since 2004. Other shareholders of ABI include London-based private equity firm Development Partners International (20.2%) and Atlantic Financial Group (11.5%).

Contact Information

Borrower: Atlantic Business International
Habib Kone, CEO
Contact No.: +225 2020 1010
Office Address: 01 BP 2311, Abidjan 01Cote d’Ivoire
Website: www.banqueatlantique.net 

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/