Release date: 20 October 2022
Promoter – Financial Intermediary
ATLANTIC BUSINESS INTERNATIONAL SALocation
Description
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.
Objectives
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.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 10 million
Total cost (Approximate amount)
EUR 65 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 21/12/2023
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).