VISTA YOUTH & GENDER AGRI VALUE CHAINS MBIL

The operation consists in up to EUR 40m Single Signature Single Risk (SSSR) Multiple Beneficiary Intermediated Loans (MBILs) to Vista Group's banking subsidiaries in Guinea and Sierra Leone. Through the MBILs, Vista Gui in Guinea (EUR 30m) and to Vista Bank (SL) in Sierra Leone (EUR 10m) will have the capacity to on-lend to eligible small and medium-sized enterprises (SMEs) and mid-caps active in agriculture value chains. These businesses will have a positive impact on youth employment, gender equality, and women's economic empowerment.

The aim is to enhance access to finance for agricultural value chain SMEs and mid-caps, while also supporting the European Union's key priorities in both countries. Under this operation, a minimum of 70% of the loan amounts will target agriculture value chains, including key sectors identified by EU Delegations. These include cashew, infant food (and its ingredients), fruit and vegetable processing, and rice value chains across both countries. Additionally, country-specific priorities will be addressed, such as fish and seafood processing, as well as cereals like fonio and rice in Guinea, and cocoa, palm oil, cassava, and coffee in Sierra Leone. Furthermore, at least 30% of the total loan amounts will be directed toward businesses that are owned, run, employ, or primarily serve women, in alignment with the 2X Challenge criteria. A minimum of 50% will be specifically aimed at businesses led or founded by young entrepreneurs or those employing at least 40% young people.

The EIB intermediated loans to Vista Gui and Vista Bank (SL) will address market failures in Guinea and Sierra Leone, where agribusiness SMEs face severe financing constraints due to high-risk perception, lack of long-term financing, high interest rates, and collateral requirements.

Aligned with the EU's Global Gateway strategy, the operation promotes sustainable and inclusive economic growth. It will contribute to Team Europe Initiatives, notably the Green and Blue Economy in Guinea, which fosters sustainable agri-food systems, and Sierra Leone's Green Pact, which strengthens food security and employment-oriented value chains. By directing at least 70% of financing to agricultural value chains, including EU priority sectors such as cashew, infant food, fruits and vegetables processing and rice, it supports economic diversification and food security. It also complements EU-funded initiatives, including UNCDF's "Salon Access to Finance" and the Feed Salone Strategy in Sierra Leone, as well as the "TRANSFORM" programme in Guinea, ensuring synergies with ongoing EU interventions. It also reinforces EU commitments to gender equality and youth empowerment. With a 50% youth and 30% gender equality target, in line with GAP III and the 2X Challenge, it addresses barriers to economic participation in countries with high migration risks.

By providing long tenors at flexible terms, the EIB loans will enable Vista Gui and Vista Bank (SL) to expand access to tailored financial products for SMEs, particularly in agriculture, which will be also supported with a TA programme to strengthen their agricultural financing expertise and environmental and social frameworks, while supporting agrifood SMEs in structuring bankable projects. The implementation of Environmental and Social Management Systems (ESMS) and a Task Force on Climate-related Financial Disclosures (TCFD) framework will contribute to ensure responsible lending, complementing the support provided by other European development finance institutions.

Vista Gui and Vista Bank (SL) shall take all the requisite measures to ensure that the final beneficiaries undertake to implement and operate the financed sub-projects in line with the requirements of the applicable national legislation and the relevant ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in their respective countries. By promoting the financial inclusion of agriculture value chain actors and SMEs, the project will deliver significant positive social outcomes. Moreover, support to food value chains under the scheme can contribute to increased self-reliance and therefore reduce vulnerability to external shocks. This operation will also contribute to supporting youth employment and gender equality and women's economic empowerment.

Sub-project investments under this project will be implemented and procured by private sector final beneficiaries (SMEs, Mid-Caps and cooperatives not falling under the meaning of public authority per EIB Guide to Procurement Annex 5 and therefore using a private procurement regime).

Under EFSD+ Guarantee