Original disclosure @ IFC website
Updated in EWS Apr 19, 2023
Disclosed by Bank Apr 6, 2023
Can you contribute information about this project?
Contact the EWS Team
As stated by the IFC, the proposed project is an uncommitted trade finance guarantee facility under IFC’s Global Trade Finance Program (GTFP) of up to US$5 million. The purpose of the proposed IFC trade line is to support Interbank Burundi’s trade program. GTFP’s investment in the form of a trade line will confirm banks partial or full guarantees [and other trade instruments] covering payment risk on banks in emerging markets in the Republic of Burundi for their trade related transactions.
The IFC categorized the project as FI-3.
From the IFC's website:
Incorporated in 1993, Interbank Burundi is a privately owned commercial bank in Burundi licensed and regulated by the Bank of the Republic of Burundi. IBB is the 5th largest bank by assets, 7th by loans and 3rd by deposits in Burundi. The bank serves local businesses and employees of local prominent companies. Its product offering is relatively basic with a client segmentation based on the legal status rather than size of business. IBB has a nationwide presence outside key cities through its network of 41 branches, 26 ATMs, and 495 employees.
As of December 2022, IBB shareholders are Georges Coucoulis (20.5%), Callixte Mutabazi (14.5%), Costa Arturo’s succession (11.4%), IBB’s pension Fund (9.1%) and other individuals < 5% (44.5%).
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Financial Intermediary - Interbank Burundi s.a.:
Eric Jonckheere - Chief Executive Officer
Phone: +257 72 03 44 22
Address: 15 Ave de l'Industrie, Bujumbura, Burundi
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
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