BCI FOMENTO-II

completed

The project consists of a line of credit of up to $30 million to Banco Comercial e de Investimentos, SARL (“BCI” or the “Bank”), one of the largest banks in Mozambique. The project’s main objective is to: (i) provide the Bank with the scarce long term funding to increase its lending activities to the underserved segments in Mozambique; and (ii) assist BCI to diversify its funding base and better manage its asset-liability maturity mismatch. The project is a follow on investment to an existing program agreed between IFC and BCI under which IFC is providing BCI a technical assistance to transfer knowledge and know-how to the Bank and extend credit to Micro, Small, and Medium Enterprises “MSMEs.” BCI was incorporated in 1996 as a limited liability joint stock company. Since then, BCI grew to become the second largest commercial bank in Mozambique with about 24% market share in terms of total assets. Through its extensive network comprising more than 90 branches, 140 ATMs and 1,200 Points of Sales, BCI offers a wide range of financial services to corporate and individual clients across the country.