Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages
    Reference: 20230702
    Release date: 3 July 2024

    Promoter – Financial Intermediary

    BANQUE NATIONALE D'INVESTISSEMENT SA

    Location

    Description

    The Multi Beneficiary Intermediated Loan (MBIL) to Banque Nationale d"Investissement (BNI) will enhance access to finance to eligible small and medium sized enterprises (SMEs) and mid-caps in the agriculture value chain, in particular in the sustainable cocoa sector, as well as to those supporting youth employment in the Ivory Coast.

    Objectives

    The aim is to finance investments in agriculture value-chains (60% contractual target) and support youth employment (50% contractual target), in line with the "Agriculture and Food Systems Sustainability priority" as well as with the EU Multiannual Indicative Plan (MIP) 2021-2027 aiming at "contributing to the employability of young people. By focusing specifically on sustainable cocoa (30% contractual target), a Team Europe flagship initiative in the country, the MBIL will facilitate access to finance to agri-food SMEs and smallholder producers, often facing obstacles and lacking information when applying for funding, and therefore fill a gap in this market segment. Targeting businesses led and/or founded by young entrepreneurs or employing at least 40% of young people is in line with the MIP objective of "supporting private investment, particularly around sustainability issues, and policies that create quality jobs for young people".

    Sector(s)

    Under Global Europe NDICI guarantee

    Under EFSD+ Guarantee

    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    The intermediary has to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the sub-projects receiving BNI's financing 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, in particular ILO Conventions 138 (Minimum age) and 182 (Worst forms of child labour). By promoting the financial inclusion of agriculture value chain actors and SMEs, the project will deliver significant positive social outcomes through its thematic focus on the sustainable cocoa sector and youth employment. Moreover, support to food value chains under the scheme can contribute to increased self-reliance and therefore reduce vulnerability to external shocks.

    Procurement

    The intermediary has to take all requisite measures to ensure that any procurement procedures carried out by the final beneficiaries are in accordance with the EIB's Guide to Procurement.

    Status

    Under appraisal - 22/01/2024

    Milestone
    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).

    Related tags

    Côte d'Ivoire Credit lines