Release date: 13 April 2010
Promoter – Financial Intermediary
MicroCred
Mr Arnaud Ventura, Chairman of the Executive Board
13 rue Dieumegard
93400 Saint-Ouen
France
Location
Description
Creation of a commercial microfinance institution in Côte d’Ivoire.
Objectives
- To improve access to financial services for micro-entrepreneurs and individuals without bank accounts in Côte d’Ivoire;
- To develop microfinance activity that is commercially viable and thus sustainable.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 3.2 million (equity participation and technical assistance).
Total cost (Approximate amount)
Up to EUR 11 million (capitalisation) and EUR 2.5 million (technical assistance).
Environmental aspects
The financial institution will undertake to deploy a system of managing the social and environmental aspects in accordance with the Bank's requirements.
Procurement
Not applicable.
Status
Under appraisal - 13/04/2010
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).