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