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SHORECAP III

Signature(s)

Amount
€ 17,041,581.46
Sector(s)
Services : € 17,041,581.46
Signature date(s)
13/12/2017 : € 17,041,581.46
Link to source
Data sheet
SHORECAP III
Other links
Summary sheet
SHORECAP III

Summary sheet

Release date
2 June 2016
Status
Reference
Signed | 13/12/2017
20160379
Project name
Promoter - financial intermediary
SHORECAP III
PRIVATE ENTITY(IES)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 20 million
USD 150 million
Location
Sector(s)
Description
Objectives

Equity investment in a USD 150 m fund promoting financial inclusion in Africa through equity and quasi-equity investments in small and medium-sized enterprise (SME) banks, microfinance institutions, micro-insurance and financial technology (Fintech).

Thanks to its expanded presence on the African market, the fund's objective is to invest with minority positions in equity and quasi-equity, shareholder's loans, and convertible debt in regulated financial institutions. Apart from looking for competitive returns for its investors, the fund seeks to provide investees with (i) access to scarce equity funding, (ii) corporate governance (iii) compliance and reporting of environmental, social and corporate governance (ESG) performance, (iv) strategy in particular via access to capacity building.

Environmental aspects
Procurement

The fund's operational guidelines will provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

Not applicable.

Link to source
Summary sheet
SHORECAP III
Other links
Data sheet
SHORECAP III

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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