SLGP RSF BBGCI

pending

The investment consists of an unfunded risk sharing facility (RSF) provided to Bridge Bank Group Côte d'Ivoire (BBGCI or the Bank), a commercial bank operating in Côte d'Ivoire and in Senegal, for  a maximum IFC exposure of up to XOF24.6 billion (c. US$39.7 million equivalent) to cover 50% of the principal losses on an up to XOF49.2 billion (c. US$79.5 million equivalent) portfolio of loans to small and medium-sized enterprises (SMEs), including women-owned/ led SMEs (WSMEs), to be originated by the Bank in both Côte d’Ivoire and Senegal (the Project). The Project was processed in two tranches and across two platforms. IFC’s investment under the first tranche (project #46662) was up to XOF15.1 billion (c. US$24.7 million equivalent) and was processed under the Small Loan Guarantee Program (SLGP), which is supported by the IDA IFC-MIGA Private Sector Window’s Blended Finance Facility (IDA-PSW BFF).  IFC’s investment under the second tranche (project #50190) was up to XOF9.5 billion (c. US$15 million equivalent) and was processed under the European Commission (EC)-only pool of the SLGP EC/PSW which is supported by the European Union, represented by the EC through the European Fund for Sustainable Development (EFSD) for EC-Only Countries.  This project also benefitted from a performance-based incentive (PBI) provided by the Women Entrepreneurs Finance Initiative (We-FI) subject to the Bank achieving pre-agreed performance targets relating to lending to WSMEs.