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.:
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