NSIA BANQUE COTE D'IVOIRE (FMO-64795)

Countries
  • Ivory Coast
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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."
Voting Date
Dec 9, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
NSIA Banque Cote d'Ivoire
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
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 31.67 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.
Currency conversion note:
Bank reported 30
Converted using 2024-12-09 exchange rate.
Project Cost (USD)
$ 95.00 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.
Currency conversion note:
Bank reported 90
Converted using 2024-12-09 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 30, 2025

Disclosed by Bank Apr 30, 2025

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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 transaction is a EUR 90 mln long-term senior loan facility arranged by DEG in a syndicate with FMO and Proparco, all offering an equal 33.3% stake. A significant portion of the facility will be dedicated to the cocoa sector, the cornerstone of the national economy, in order to promote sustainable, responsible, and equitable growth, particularly in rural areas.

With the financing, FMO supports market and sector development in Cote d'Ivoire. Small and medium-sized enterprises (SMEs) are the engine of Cote d'Ivoire's economy, accounting for 98% of all firms and providing 23% of the country's private-sector jobs and 20% of the country's GDP. However, their access to finance is limited, and significant potential remains unrealized. With this financing, NSIA Banque CI will strengthen its capacity to finance SMEs and small corporates, which will help to address regional disparities through an extensive territorial network (more than 80 branches).

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.

NSIA is categorized as FI-A, reflecting the FI's overall portfolio exposure to high environmental and social (E&S) risk sectors such as Manufacturing (heavy industries), Agriculture (large-scale primary agriculture), Energy, Construction, Mining, and Quarrying. NSIA has developed and implemented a functional E&S Management System (ESMS), including sector guidelines that cover various E&S-related risks in agro-industries.

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

A EUR 90 mln long-term senior loan facility arranged by DEG in a syndicate with FMO and Proparco, all offering an equal 33.3% stake.

Total FMO financing: EUR 30.00 MLN

Funding: FMO NV

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.

NSIA Banque Cote d'Ivoire (CI) is a subsidiary of the pan-African NSIA Group, present in 12 African countries and a leader in the banking and insurance sectors, NSIA Banque CI is a leading institution in Cote d'Ivoire. Listed on the Regional Stock Exchange (BRVM), the Bank has more than 80 points of sale, a network of branches dedicated to businesses, more than 120 ATMs, and a representative office in Paris dedicated to the diaspora.

Proparco is a subsidiary of the AFD Group focused on private sector development, and provides funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle-East. Its action focuses on the key development sectors: infrastructure, mainly for renewable energies, agribusiness, financial institutions, health and education.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PROPARCO Investor -

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.

https://www.nsiabanque.ci/

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works