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    Signature(s)

    Amount
    € 15,000,000
    Countries
    Sector(s)
    Regional - Africa : € 15,000,000
    Credit lines : € 15,000,000
    Signature date(s)
    27/10/2022 : € 800,000
    27/10/2022 : € 800,000
    27/10/2022 : € 800,000
    28/10/2022 : € 1,120,000
    28/10/2022 : € 1,120,000
    28/10/2022 : € 1,280,000
    27/10/2022 : € 2,400,000
    28/10/2022 : € 2,400,000
    28/10/2022 : € 4,280,000

    Summary sheet

    Release date
    13 August 2021
    Status
    Reference
    Signed | 27/10/2022
    20200728
    Project name
    Promoter - financial intermediary
    ECOBANK (ETI) COVID-19 GUARANTEE FACILITY
    ECOBANK TRANSNATIONAL INC
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 15 million
    EUR 94 million
    Location
    Sector(s)
    Description
    Objectives

    This facility provides a partial portfolio guarantee to the financial intermediary Ecobank Transnational Incorporated (ETI) in order to support financing eligible small and medium-sized investments undertaken by small and medium-sized enterprises (SMEs) in several sub-Saharan countries, thereby contributing to economic resilience, employment-generating activities and alleviating the economic burden due to the COVID-19 outbreak in the region.

    The primary objective of the operation is to enhance access to finance for small and medium-sized enterprises (SMEs) and enable improved terms and conditions like reduced collateral requirements and/or lower financing costs.

    Additionality and Impact

    This risk sharing facility (RSF) provides a partial portfolio guarantee to the financial intermediary Ecobank Transnational Incorporated (ETI). ETI - through its lending subsidiaries - would support financing for eligible small- and medium-sized investments undertaken by SMEs in several Sub-Saharan Countries. This facility therefore contributes to economic resilience, employment generating activities and alleviating the economic burden due to the COVID-19 outbreak in the region.


    The operation supports sustainable growth and jobs which is part of the main pillars of the EU's strategic alliance with Africa.


    The RSF provides risk support to the Ecobank Group and thereby promotes the mandate's objective of enabling access to finance ? at advantageous terms like reduced collateral requirements - to SMEs. The RSF will stimulate the Group to expand its outreach to small and medium sized enterprises and simultaneously support the attraction of funds from other private sector stakeholders for the supported projects.

    Environmental aspects
    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Related projects
    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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