NSIA Banque Côte d'Ivoire secures 100 million euro loan

NSIA Banque Côte d'Ivoire has secured a 100 million euro syndicated credit facility, led by Citibank, with the participation of FinDev Canada and KEXIM Global (Singapore) Ltd. (KGS). This funding is intended to support various economic initiatives in Côte d'Ivoire.

FinDev Canada contributes 40 million euros

FinDev Canada has provided a 40 million euro loan to NSIA Banque Côte d'Ivoire, specifically aimed at strengthening private sector financing, female entrepreneurship, and energy transition projects. This injection of capital will help the bank expand its support for SMEs.

Funding allocation for SMEs and growth

NSIA Banque Côte d'Ivoire plans to allocate 50% of the mobilized resources to support SMEs. This will help promote job creation and strengthen the role of SMEs in driving national economic growth.

Support for female entrepreneurship

In line with its financial inclusion policy, the bank will allocate 30% of the funds to SMEs owned or managed by women. This commitment aims to boost female entrepreneurship and foster more inclusive economic growth.

Focus on energy transition projects

A portion of the financing will also be directed toward energy transition projects, including the development of photovoltaic installations for commercial, industrial, and tertiary buildings. This supports renewable energy and energy efficiency in Côte d'Ivoire.

Leadership comments on the initiative

Benito Fado, General Director of NSIA Banque Côte d'Ivoire, called the loan a major step in the bank's strategy to support the private sector. Lori Kerr of FinDev Canada highlighted the collaboration with financial institutions to invest in priority markets.

Canadian government supports inclusive growth

Anita Anand, Canada's Minister of Foreign Affairs, emphasized Canada's commitment to partnerships that promote inclusive and sustainable economic growth in Africa. This aligns with Canada's broader strategy for the continent.

Citi and KGS contribute to sustainable goals

Pape Sall of Citi for West and Central Africa expressed pride in leading the transaction alongside FinDev Canada. Lee Do Hyung of KGS noted that the transaction aligns with KGS's goals to support the global transition to a sustainable economy.

About NSIA Banque Côte d'Ivoire

NSIA Banque Côte d'Ivoire is a subsidiary of NSIA Holding Financière and one of the leading commercial banks in the country. It offers a wide range of financial services through a network of over 80 branches.

Overview of FinDev Canada

FinDev Canada is a financial development institution that invests in emerging markets to generate development impact, financial returns, and shared economic prosperity.

Citi's role in global finance

Citi is a leading banking partner for institutions with cross-border needs, a global leader in wealth management, and a trusted bank for individuals in the United States.

KEXIM Global's international focus

KEXIM Global (Singapore) Ltd. is a subsidiary of the Export-Import Bank of Korea, providing customized financing solutions for international-scale projects.