Leasing client preparation Advisory Services phase to BNI

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The IFC-supported project aims to address the lack of access to financing for MSMEs in Côte d'Ivoire by promoting leasing as a solution to overcome collateral constraints. With an estimated financing gap of $3,782 million USD, many MSMEs struggle to obtain credit, hindering their ability to grow their businesses and contribute to economic activity. Leasing offers a viable alternative by allowing MSMEs to access credit without the need for traditional collateral. By purchasing machinery and renting it out to lessees, leasing frees up cash flows and provides a flexible financing tool tailored to the needs of MSMEs. It also offers a quicker credit approval process, allowing MSMEs to secure equipment and generate revenue more rapidly. Building on the foundation laid by the Afrileasing program, the project will provide technical support to the Banque national d’investissement (BNI) in launching its leasing operations. This support includes advisory services for front office business development activities, credit approval and administration, and the informal/formal recovery processes. The project will deliver tools and best practices to enhance client relationships, manage partnerships, and streamline leasing processes. It will also provide feedback on leasing product development and support the middle office and back office in the disbursement of leasing files. Additionally, the project will provide guidance on amicable and legal debt collection processes, including support during amicable recovery activities and the provision of collections letters to clients. It will also offer guidance on the management of files requiring legal means for asset recovery and disposal. The project will be measured through the sharing of reports, tools, and best practices, as well as the recommendation of procedures, policies, practices, and standards for improvement or elimination. Workshops, meetings, visits, and training events will be conducted to ensure knowledge transfer and capacity building. The project team, consisting of experienced leasing and banking experts, will work closely with BNI to ensure the successful launch of its leasing operations. The project will also consider environmental and social risks, as well as external risks such as changes in economic or socio-political conditions. By promoting leasing as a financing solution, the project aims to increase access to credit for MSMEs in Côte d'Ivoire, contributing to economic development, poverty eradication, and shared prosperity.