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Signature(s)

Amount
€ 2,000,000
Countries
Sector(s)
Djibouti : € 2,000,000
Services : € 2,000,000
Signature date(s)
26/05/2009 : € 2,000,000
Link to source

Summary sheet

Release date
2 December 2008
Status
Reference
Signed | 26/05/2009
20080012
Project name
Promoter - financial intermediary
Banque de Dépôt et de Crédit Djibouti

Banque de Dépôt et de Crédit Djibouti

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 2 million.
EUR 5,1 million.
Location
Sector(s)
Description
Objectives

Banque de Dépôt et de Crédit Djibouti (BDCD) is a new bank, regulated under the laws of the Republic of Djibouti, founded by private investors.

BDCD started operations in the first quarter of 2008 to provide banking services and products to Djibouti entrepreneurs and small businesses which have been largely ignored until now by the country’s two duopolistic banks. As such it is expected that BDCD will have a positive impact on Djibouti’s banking sector by creating alternatives for bank clients as well as by providing its clients with new means to grow their businesses. In order to support the development and future growth of BDCD, it is proposed that the EIB provides tier 2 capital in the form of a quasi-equity type convertible loan.

To support the growth of BDCD and its financial capacity to provide credit products to SMEs and individual entrepreneurs.

Environmental aspects
Procurement

Not applicable.

Not applicable.

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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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.

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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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