ACP INCLUSIVE GROWTH & YOUTH EMPLOYMENT GA

Credit facility to financial intermediaries for on-lending to micro, small and medium-sized enterprises (MSMEs) and mid-caps, contributing to private sector inclusive growth, decent job creation for youth and youth entrepreneurship in African, Caribbean and Pacific (ACP) countries.

This operation will support micro, small and medium-sized enterprises (MSMEs) and mid-caps and the promotion of decent job creation across African, Caribbean and Pacific (ACP) countries, with a focus on sub-Saharan Africa. It is expected to contribute, among others, to the achievement of Sustainable Development Goals (SDGs) 1 (No Poverty), 8 (Decent Work and Economic Growth) and 10 (Reducing Inequalities). Access to finance for firms at the early stages of the enterprise life cycle is limited, especially for innovative or younger companies and companies in new and growing sectors. Even mature SMEs and mid-caps have essentially no access to local capital markets, which, in the few countries where they are developed, are accessible only to a limited number of large corporates and banks. By providing much needed funding to SMEs, the proposed operation can be expected to significantly contribute to improving access to finance, supporting the capacity of private enterprises to reap investment opportunities. A focus on job creation for youth, increased access to finance for young entrepreneurs, and opportunities for training skills development for young persons will contribute to a more sustainable economic recovery.

The Bank will require the financial intermediaries to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the ElB's Environmental Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.

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

Under EFSD+ Guarantee