Release date: 26 September 2007
Promoter – Financial Intermediary
Ecobank Transnational Inc. (ETI)Location
Description
The project aims at the development of Ecobank Transnational Incorporated (ETI), in particular with regard to
(i) its regional network and
(ii) its retail strategy and
(iii) its private sector operations.
Objectives
The project corresponds to the Investment Facility Business Plan by
(i) fostering regional integration in the financial sector through the support of a dynamic, African, international banking group,
(ii) enabling the implementation of ETI’s retail strategy which will extend the availability of credit and financial services to a larger segment of the population in the region, and
(iii) supporting private sector projects, particularly in the more difficult countries of the region, that the Bank cannot reach directly.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 50 million.
Total cost (Approximate amount)
Project cost is expected to be of the order of EUR 400 million.
Environmental aspects
ETI’s capacity to assess the environmental impact of the projects it finances will be evaluated during appraisal. If necessary, measures will be taken to reinforce such capacity (e.g. through technical assistance).
Procurement
ETI will ensure that equipment, works and services to be financed under this operation will be procured at the most advantageous prices, having regard to quality and efficiency, and that an open international bidding procedure will be followed where appropriate. The applicable procedures will be assessed during appraisal.
Status
Signed - 12/12/2007
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).