Original disclosure @ IFC website
Updated in EWS Apr 21, 2023
Disclosed by Bank Mar 23, 2023
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According to the IFC, the proposed project consists of a 3-year senior unsecured loan of up to US$2.5 million in Malagasy Ariary to ACEP Madagascar S.A. to enable the provision of funding to micro and small-sized enterprises that have been negatively impacted by the COVID-19 pandemic in Madagascar. The Project will be processed under IFC’s Base of the Pyramid COVID-19 Crisis-Response Program (Project #44915) and will be supported by IDA Private Sector Window Blended Finance Facility and IDA-PSW Local Currency Facility.
The IFC categorized the project as FI-2.
From the IFC's website:
Founded in 1994 as ADéFi and operating as ACEP since 2009, the Company is one of the longest-operating microfinance institutions in Madagascar. ACEP is focused on providing financial solutions to micro and small entrepreneurs, currently counting over 32,000 active clients, served by 550 staff across 50 branches in 16 of Madagascar’s 22 regions. The Company is part of the ACEP Group, a pan-African microfinance group that also operates in Burkina Faso, Niger, and Cameroon, reaching over 120,000 clients.
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General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Financial Intermediary - ACEP Madagascar S.A.:
Mahefa Randriamiarisoa - CEO
Address: 120, Rue Rainandriamampandry Faravohitra, Antananarivo, Madagascar
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