Release date: 2 December 2008
Promoter – Financial Intermediary
Banque de Dépôt et de Crédit Djibouti
Location
Description
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.
Objectives
To support the growth of BDCD and its financial capacity to provide credit products to SMEs and individual entrepreneurs.
Sector(s)
Proposed EIB finance (Approximate amount)
USD 2 million.
Total cost (Approximate amount)
EUR 5,1 million.
Environmental aspects
Not applicable.
Procurement
Not applicable.
Status
Signed - 26/05/2009
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).