Original disclosure @ IFC website
Updated in EWS Mar 4, 2023
Disclosed by Bank Mar 1, 2023
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According to the IFC, the proposed project consists of an unfunded Risk Sharing Facility (RSF) for up to XOF5 billion (or approximately US$8.3 million) committed in two equal tranches to Banque Internationale pour le Commerce et l'Industrie de la Côte d’Ivoire (BICICI) with a maturity of up to 8 years under IFC’s Africa Medical Equipment Facility (AMEF). The RSF will cover up to 50% of the risk on a portfolio of healthcare small and medium enterprise (HSME) loans in an amount of up to XOF10 billion (or approximately US$16.5 million) to help scale up the Bank's SME lending in Côte d’Ivoire. The loans will be originated by BICICI, the sixth largest bank in Côte d’Ivoire in terms of gross loans, through HSMEs, such as hospitals, clinics, pathology laboratories, diagnostic imaging centers and medical equipment distributors, for whom BICICI finances the purchase of medical equipment through leading original equipment manufacturers.
The Project has been categorized as FI-2, in accordance with IFC's Environmental and Social Sustainability Policy.
As stated by the IFC, the investment consists of an unfunded RSF on a portfolio of SME loans totaling up to XOF10 billion (or approximately US$16.5 million). IFC’s maximum exposure will be up to XOF5 billion (or approximately US$8.3 million).
BICICI is part of the Groupe BNP Paribas. As stated by the IFC, the Bank’s main shareholders include CNPS, the national social security fund with a stake of 21.55%, BNI, a state-owned bank with a stake of 21.09%, SUNU Assurances Vie CI with a stake of 18.97%, IPS-CGRAE, the national pension fund for civil servants with a stake of 12.65%, and CDC, the state-owned fund for Deposits and Consignments with a stake of 12.65%.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Financial Intermediary - Banque Internationale pour le Commerce et l'Industrie de la Côte d’Ivoire:
Mr. Yao Gérard Kouadio - Responsable Stratégie Etudes et Veille
Phone: +225 27 20 24 24 24
Address: Avenue Franchet d'Espérey 01 BP 1298 Abidjan Plateau, Côte d’Ivoire
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