Release date: 20 October 2022
Promoter – Financial Intermediary
ATLANTIC BUSINESS INTERNATIONAL SALocation
Description
L'opération proposée est un prêt intermédié à bénéficiaires multiples à Atlantic Business International SA, qui sera déployé par l'intermédiaire de ses filiales bancaires dans les États Membres de l'Union Économique et Monétaire Ouest-Africaine (UEMOA), pour rétrocession à des Petites et Moyennes Entreprises (PME) et Entreprises de Taille Intermédiaire (ETI), en mettant l'accent sur l'emploi des jeunes et l'égalité des genres
Additionality and Impact
The proposed Multiple Beneficiary Intermediated Loan (MBIL) aims at on-lending to private businesses, notably SMEs. It will contribute to the private sector inclusive growth and decent job creation in Member States of the West African Economic and Monetary Union (WAEMU) and will target specifically i) decent job creation for youth and youth entrepreneurship and ii) businesses owned, run, employing or primarily serving women, in line with the 2X Challenge criteria.
The project is expected to enhance inclusive growth and sustainable economic development and is aligned with the priorities expressed under the NDICI-Global Europe and the African Union's Agenda 2063. It will contribute to the achievement of Sustainable Development Goals (SDGs) 1 "No Poverty", SDG-5 "Gender Equality", SDG-8 "Decent Work and Economic Growth", SDG-10 "Reducing Inequalities" and SDG-17 "Partnerships for the Goals".
The availability of longer-term funds in hard currencies will enable ABI to diversify its funding sources, extend the tenors of its underlying loan and continue deepening local financial markets. It is foreseen that technical assistance will be provided to ABI through the African Women Rising Initiative. Moreover, a partial portfolio guarantee under the EFSD Guarantee will be deployed to enable ABI to provide wider access to finance for SMEs, with enhanced conditions for young persons and women.
Objectives
Cette opération a pour objectif le financement de projets portés par des Petites et Moyennes Entreprises (PME) et des Entreprises de Taille Intermédaire (ETI), et ciblera notamment les PME contribuant significativement à l'emploi des jeunes et à l'égalité des genre dans l'accès à la finance.
Sector(s)
- Credit lines - Credit lines
Under Global Europe NDICI guarantee
Dans le cadre de la garantie EFSD+
Proposed EIB finance (Approximate amount)
EUR 65 million
Environmental aspects
Les bénéficiaires finaux devront se conformer à la législation nationale et européenne pertinente en vigueur.
Procurement
Les bénéficiaires finaux devront se conformer à la législation nationale et européenne pertinente en vigueur.
Status
Signed - 21/06/2023
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).