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.
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.
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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