Atlantic Business International (ABI), a holding company owned by the Morocco-based Banque Centrale Populaire (BCP) Group, recently entered an agreement with the EU’s European Investment Bank (EIB) whereby EIB will fund half of EUR 130 million (USD 138 million) in funding to be distributed via ABI’s Banque Atlantique institutions in Burkina Faso, Côte d’Ivoire and Senegal. The funds are to be directed to small and medium-sized enterprises (SMEs) and mid-caps with the goal of
Tag: EIB
MICROCAPITAL BRIEF: WeLight Madagascar Raises $20m from EDFI ElectriFI, EIB, Triodos for Off-Grid Solar Development
WeLight, which operates in Madagascar and Mali, recently raised EUR 19 million (USD 20 million) from the Electrification Financing Initiative (ElectriFI) of Belgium-based European Development Finance Institutions (EDFI), the EU’s European Investment Bank (EIB) and three funds managed by Netherlands-based Triodos Investment Management to build solar mini-grids in Madagascar. These commitments complete the fundraising phase of a EUR 28 million (USD 30 million) project to
MICROCAPITAL BRIEF: EIB Lends Credo Bank $10m for MSMEs in Georgia
The EU’s European Investment Bank (EIB) recently agreed to loan Credo Bank, a commercial bank in Georgia, GEL 28.8 million (USD 10 million) to expand its financing of micro-, small and medium-sized enterprises (MSMEs). The floating-rate loan is synthetic, meaning it is denominated in euros but
MICROCAPITAL BRIEF: EIB Supporting Technical Assistance for Banque Misr on Financial Inclusion for SMEs, Post-COVID Growth in Egypt
Banque Misr, a financial institution owned by the government of Egypt, recently agreed to work with the EU’s European Investment Bank (EIB) on technical assistance efforts to: (1) enhance Banque Misr’s risk management and company-wide best practices regarding lending to small and medium-sized enterprises (SMEs); and (2) create new financial services through which Banque Misr can support
MICROCAPITAL BRIEF: Terabank Georgia Borrowing $7m from EIB to Aid MSMEs in Adjusting to COVID-19 Pandemic
The EU’s European Investment Bank (EIB) recently opened a credit line of EUR 6 million (USD 6.8 million) – usable in synthetic Georgian lari – for Terabank Georgia, which is owned by the UAE-based Abu Dhabi Group. Terabank, which focuses on retail customers as well as small and medium-sized enterprises (SMEs), seeks to use the credit line to help
MICROCAPITAL BRIEF: Agricover Credit IFN Borrows $18m from EIB to Expand Financial Access for Small, Medium-sized Farms in Romania
Recently, Agricover Credit IFN, a non-banking financial institution that specializes in financing agribusinesses in Romania, received a loan of EUR 7.5 million (USD 8.9 million) from the European Investment Bank (EIB), an entity of the EU. The agreement is designed to
MICROCAPITAL BRIEF: DFC Boosts 2X Women’s Initiative Goal to $12b; Adds Climate, Technical Assistance Components; Announces Women’s World Banking (WWB) Fund Partnership
The government-backed US International Development Finance Corporation (DFC) recently announced a set of initiatives to boost its promotion of gender equity, including: (1) an increased goal of investing USD 12 billion in women over five years through its 2X Women’s Initiative, which supports “investment in projects that are owned by women, led by women, or provide a product or service that empowers women;” (2)
MICROCAPITAL BRIEF: EIB Lending Banca Intesa Beograd of Serbia $47m for SMEs, Mid-Caps Adjusting to COVID-19 Pandemic
Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 40 million (USD 47 million) to Banca Intesa Beograd (BIB) in an effort to boost the Serbian economy in response to the downturn caused by the COVID-19 pandemic. The funds are for on-lending to small and medium-sized enterprises (SMEs) and mid-caps to support operations, job retention and
MICROCAPITAL BRIEF: EIB Lending Jordan Kuwait Bank $119m for SMEs Adjusting to COVID-19 Pandemic
Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 100 million (USD 119 million) to Jordan Kuwait Bank in an effort to boost the Jordanian economy in response to the downturn caused by the COVID-19 pandemic. The funds are to be used for
MICROCAPITAL BRIEF: EIB Lending CIH Bank of Morocco $73m to Support SMEs, Mid-caps in Adjusting to COVID-19 Pandemic
The European Investment Bank (EIB), an entity of the EU, recently agreed to loan EUR 60 million (USD 73 million) to Crédit Immobilier et Hôtelier (CIH) Bank, which is controlled by the
MICROCAPITAL BRIEF: Finnvera to Issue $780m in Pandemic-relief Loans in Finland with 75% Guarantee from EIB
Finnvera, a financier owned by the government of Finland, recently joined the Pan-European Guarantee Fund (EGF), an investment vehicle with EUR 25 billion (USD 29 billion) intended to catalyze an additional EUR 200 billion (USD 241 billion) in liquidity for firms adjusting to the COVID-19 pandemic. Under the program, Finnvera plans to lend EUR 650 million (USD 780 million) by December to firms in Finland that have more than
MICROCAPITAL BRIEF: Equity Bank Secures $144m from EIB, EU to Support Agriculture, SMEs in Kenya in Responding to COVID-19 Pandemic
Equity Bank (Kenya) Limited, a member of the Equity Bank Group, recently secured EUR 100 million (USD 120 million) from the EU’s European Investment Bank (EIB) for on-lending to small and medium-sized enterprises (SMEs). The EU Ambassador to Kenya, Simon Mordue, said,
MICROCAPITAL BRIEF: EIB Lends $3m to Microfund for Women (MFW) for Entrepreneurs in Jordan
The European Investment Bank (EIB), an institution of the EU, recently lent EUR 2.7 million (USD 3.3 million) to Microfund for Women (MFW) to be on-lent for microenterprise in Jordan. These loans are intended to support 9,100 people, 90 percent of whom are women, whose livelihoods have been threatened by the effects of the COVID-19 pandemic. EIB drew the funds from the Southern Neighborhood Microfinance
MICROCAPITAL BRIEF: EIB to Loan $517m to Banque Misr of Egypt to Fund SMEs During COVID-19 Pandemic
The European Investment Bank (EIB), the EU’s long-term lending institution, recently agreed to provide a line of credit in the amount of EUR 425 million (USD 517 million) to Banque Misr
MICROCAPITAL BRIEF: Microfund for Women (MFW) Borrowing $5m from EIB to Extend Microfinance to 146k Syrian Refugees, Local Entrepreneurs in Jordan
The EU’s European Investment Bank (EIB) recently agreed to loan USD 5 million to Jordanian microfinance institution Microfund for Women (MFW) to give microenterprises greater access to finance. The deal will support 146,000 people, almost all of them women. A portion of the funds are intended to help Syrian refugees
MICROCAPITAL BRIEF: BIO, EIB, PROPARCO Participating in $2.6m agTAF Technical Assistance Fund Launched by Incofin for Rural Entrepreneurs
Belgium-based impact investor Incofin Investment Management recently signed agreements with three government-backed institutions, the European Investment Bank (EIB), Société de Promotion et de Participation pour La Coopération Economique (PROPARCO) of France and the Belgian Investment Company for Developing Countries (BIO), to commit