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        ABI - WEST AFRICA RISK SHARING FACILITY

        Signature(s)

        Amount
        € 10,400,000
        Sector(s)
        Credit lines : € 10,400,000
        Signature date(s)
        21/12/2023 : € 10,400,000

        Summary sheet

        Release date
        20 October 2022
        Status
        Reference
        Signed | 21/12/2023
        20200730
        Project name
        Promoter - financial intermediary
        ABI - WEST AFRICA RISK SHARING FACILITY
        ATLANTIC BUSINESS INTERNATIONAL SA
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 10 million
        EUR 65 million
        Location
        Sector(s)
        Description
        Objectives

        This facility provides a partial portfolio guarantee to the financial intermediary Atlantic Business International (ABI) and its banking subsidiaries in order to support financing eligible small and medium-sized investments undertaken by SMEs in several countries in West Africa, thereby contributing to economic resilience, employment generating activities and alleviating the economic burden due to the COVID-19 outbreak in the region.

        The primary objective of the operation is to enhance access to finance for small and medium-sized enterprises (SMEs) and enable improved terms and conditions like reduced collateral requirements and/or lower financing costs.

        Environmental aspects
        Procurement

        Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

        Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

        Milestone
        Under appraisal
        Approved
        Signed
        22 November 2022
        21 December 2023
        Related projects
        Parent project
        COVID-19 SME ACCESS TO FINANCE INITIATIVE

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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