Release date: 23 January 2024
Promoter – Financial Intermediary
LA BANQUE AGRICOLELocation
Description
The operation consists in a Multi-Beneficiary Intermediated Loan (MBIL) to finance investments in sustainable agriculture in Senegal. In detail, at least 70% of the total amount will target projects in agriculture value-chains and 30% on Climate Action and Environmental Sustainability.
Objectives
The aim is to enhance access to finance for eligible cooperatives, small and medium sized enterprises and mid-caps active in agriculture value chains. This will impact positively on Climate Action and Environmental Sustainability as well as gender equality and women's economic empowerment in Senegal. In line with the 2X Challenge criteria, at least 30% of the total loan amount will support businesses owned, run, employing or primarily serving women.
Sector(s)
- Credit lines - Credit lines
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
not applicable
Environmental aspects
The EIB will require the intermediary institution to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the financed sub-projects, will comply with national legislation and the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country. The operation will promote the financial inclusion of agriculture value chain actors and SMEs and deliver significant positive environmental and social outcomes by focusing on climate action and environmental sustainability. Supporting food value chains will contribute to increased self-reliance and reduce vulnerability to external shocks.
Procurement
The EIB will require the intermediary institution to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the financed sub-projects are in line with the EIB's Guide to Procurement.
Status
Under appraisal
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).