Ecobank RSF

pending

Ecobank Transnational Inc. (“ETI” or “the Group”) is the leading pan-African full service banking group, active in 36 African countries with a licensed operation in Paris and representative offices in Beijing, Dubai, Johannesburg, London and Luanda. As at December 31, 2013, the Group’s 19,546 staff served more than 10.4 million customers across Ecobank’s 1,284 branches.Under the proposed project, IFC will be supporting ETI’s commitment to SME banking by providing risk mitigation and guarantee tools to multiple affiliates in fragile and conflict afflicted situations (“FCS”). This would enhance the participating banks’ SME lending capacity and contribute to prudently growing the Group’s SME banking business. The project entails the provision of a Risk Sharing Facility (“RSF” or the “Facility”) in the amount of US$55 million to cover eight ETI affiliates in FCS – Burundi, Chad, Republic of Congo, Democratic Republic of Congo, Cote d’Ivoire, Guinea, Mali and Togo, together the Participating Affiliates (“PAs”) for a target portfolio of SME loans in the amount of US$110 million.The project includes resources mobilization from the IFC’s Global SME Facility (“SME Facility”).