MicroCred Côte d’Ivoire

Promoter – Financial Intermediary

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

France

Location

• Côte d'Ivoire

Description

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

Objectives

• 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.

Sector(s)

• Services

Proposed EIB finance (Approximate amount)

Up to EUR 3.2 million (equity participation and technical assistance).

Total cost (Approximate amount)

Up to EUR 11 million (capitalisation) and EUR 2.5 million (technical assistance).

Environmental aspects

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

Procurement

Not applicable.

Status

Under appraisal - 13/04/2010