PAMECAS Investment (IFC-49038)

Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
PAMECAS Union des Mutuelles du Partenariat pour la Mobilisation de l’Épargne et du Crédit Au Sénégal
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 7.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 1, 2025

Disclosed by Bank Jul 9, 2025

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed Project aims to support a Senegalese microfinance institution, Union des Mutuelles du Partenariat pour la Mobilisation de l’Épargne et du Crédit Au Sénégal (PAMECAS or the MFI), with an agricultural risk sharing facility (RSF) of up to US$7 million equivalent whereby IFC will guarantee up to 70 percent of an up to US$10 million equivalent portfolio of eligible loans from smallholder farmers, cooperatives and agri micro, small and medium-sized enterprises (MSMEs). The investment will be tranched with the first tranche covering a c.US$1 million portfolio, with up to US$0.7m loss coverage.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project consists of a Risk Sharing Facility (RSF) to support PAMECAS expand its lending operations to smallholder farmers, cooperatives and micro, small and medium-sized Enterprises (MSMEs) within the agriculture sector in Senegal. The risks related to the portfolio of loans to smallholder farmers, cooperatives and MSMEs in the agricultural sector are considered medium. The E&S risks and impacts associated with the supported SME farmers, typically include biodiversity, occupational health and safety, pollution prevention, waste management, labor and working conditions issues, among others and considered limited and readily addressed through established mitigation measures. Therefore, the Project has been categorized as FI-2 in accordance with IFC’s Sustainability Policy.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The current facility is an agricultural unfunded risk sharing facility of up to US$7 million equivalent whereby IFC will guarantee up to 70 percent of an up to US$10 million portfolio. The investment will be tranched with the first tranche covering a c.US$1 million portfolio, with up to US$0.7m loss coverage.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

PAMECAS is a microfinance institution headquartered in Dakar, Senegal, structured as a cooperative company. PAMECAS is the third largest microfinance institution in Senegal in term of loans and deposits, offering SME loan products, agri campaign loans, female-targeted loans, micro loans, consumer loans, social housing and other products to a total of 1,050,000 members as of December 2024. It is comprised by 28 cooperatives and an umbrella organization, which is owned by the cooperatives. The cooperatives are owned by their members, with each member having one vote at the annual general meeting of the cooperative.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Union des mutuelles du partenariat pour la mobilisation de l'Epargne et du crédit au Sénégal
Ababacar Toure
Deputy CEO
+221774500474
atoure@pamecas.sn
UM PAMECAS, Sicap Baobab, N°565, BP:15354 Dakar Fann
https://pamecas.sn

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

How it works

How it works