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        MICROCRED COTE D IVOIRE

        Signature(s)

        Amount
        € 1,700,000
        Countries
        Sector(s)
        Côte d'Ivoire : € 1,700,000
        Services : € 1,700,000
        Signature date(s)
        16/05/2013 : € 1,700,000

        Summary sheet

        Release date
        13 April 2010
        Status
        Reference
        Under appraisal | 13/04/2010
        20090071
        Project name
        Promoter - financial intermediary
        MicroCred Côte d’Ivoire

        MicroCred
        Mr Arnaud Ventura, Chairman of the Executive Board
        13 rue Dieumegard
        93400 Saint-Ouen

        France

        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 3.2 million (equity participation and technical assistance).
        Up to EUR 11 million (capitalisation) and EUR 2.5 million (technical assistance).
        Location
        Sector(s)
        Description
        Objectives

        Creation of a commercial microfinance institution in Côte d’Ivoire.

        • To improve access to financial services for micro-entrepreneurs and individuals without bank accounts in Côte d’Ivoire;
        • To develop microfinance activity that is commercially viable and thus sustainable.

        Environmental aspects
        Procurement

        The financial institution will undertake to deploy a system of managing the social and environmental aspects in accordance with the Bank's requirements.

        Not applicable.

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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