BANQUE AGRICOLE - SENEGAL GREEN AGRI VALUE CHAIN

Projektträger – zwischengeschaltetes Finanzinstitut

LA BANQUE AGRICOLE

Ort

• Senegal

Beschreibung

The operation consists in a Multi-Beneficiary Intermediated Loan (MBIL) to finance investments in sustainable agriculture in Senegal. In detail, at least 70% of the total amount will target projects in agriculture value-chains and 30% on Climate Action and Environmental Sustainability.

Additionality and Impact

The operation concerns a Multiple Beneficiary Intermediated Loan (MBIL) to La Banque Agricole of Senegal in order to finance investments in sustainable agriculture in Senegal. The project will support private sector development in the agriculture sector and facilitate access to markets and finance for agri-food SMEs and smallholder producers.

The project is fully aligned with the EU and national development objectives, as green and sustainable agriculture and its commercialization is a priority. This operation aims to enhance access to finance for businesses owned and/or run by women, and/or employing and/or serving women, and therefore generate higher developmental impact. To that end, it would contribute towards addressing the market failure of imperfect information and the ensued obstacles to access to finance that SMEs are confronted with when applying for funding. The project will be aligned with the EU's external action, the Neighbourhood, Development and International Cooperation Instrument (NDICI) and its Investment Framework that among others promotes the support of SMEs. It is further aligned with the EU's Action Plans and Multiannual Indicative Plan for Senegal and the Team Europe Initiative for Sub-Saharan Africa and Senegal, while it is strongly aligned with the development priorities included in Senegal's national development plan and the African Union's Agenda 2063. Finally, the proposed operation is expected to advance several Sustainable Development Goals.

The availability of longer-term funds in Euros will enable the borrowers to diversify their funding sources, extend the tenors of their underlying loan and continue deepening local financial markets. It is foreseen that technical assistance will be provided through the African Women Rising Initiative. 

Ziele

The aim is to enhance access to finance for eligible cooperatives, small and medium sized enterprises and mid-caps active in agriculture value chains. This will impact positively on Climate Action and Environmental Sustainability as well as gender equality and women's economic empowerment in Senegal. In line with the 2X Challenge criteria, at least 30% of the total loan amount will support businesses owned, run, employing or primarily serving women.

Sektor(en)

• Durchleitungsdarlehen - Durchleitungsdarlehen

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Vorgeschlagene EIB-Finanzierung (voraussichtlicher Betrag)

EUR 30 million

Gesamtkosten (voraussichtlicher Betrag)

not applicable

Umweltaspekte

The EIB will require the intermediary institution to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the financed sub-projects, will comply with national legislation and the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country. The operation will promote the financial inclusion of agriculture value chain actors and SMEs and deliver significant positive environmental and social outcomes by focusing on climate action and environmental sustainability. Supporting food value chains will contribute to increased self-reliance and reduce vulnerability to external shocks.

Auftragsvergabe

The EIB will require the intermediary institution to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the financed sub-projects are in line with the EIB's Guide to Procurement.

Projektstatus

Unterzeichnet - 30/08/2024