ABI AGRI RSF (IFC-41465)

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
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)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 three subsidiaries of Atlantic Business International – namely Banque Atlantique Burkina Faso, Banque Atlantique Côte d’Ivoire and Banque Atlantique Mali, together the Participating Affiliates for a target portfolio of loans in the amount of up to EUR80 million to eligible borrowers in the full spectrum of agriculture-linked businesses across various food and non-food crop value chains from primary production, services, storage, fertilizers, seeds, supplies through to processing and distribution. 

Specifically, the project aims to increase access to finance for Agricultural 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 Agricultural 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 Agricultural SMEs and the communities they operate in.

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

ABI is a leading regional banking group and part of the Banque Centrale Populaire Group.  ABI has operational presence in 9 countries in West and Central Africa. ABI employs over 1,600 people, manages around 700,000 customer accounts and has over 205 branches in the region. As of December 2017, ABI had total assets of US$6.1 billion and total shareholders’ equity of US$491 million. ABI is headquartered in Abidjan, Côte d’Ivoire.

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/