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Ecobank Senegal: promoting MSME financing with the European Union EURIZ guarantee
Project
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Signature date
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Location
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Senegal
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Financing tool
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Financing amount (Euro)
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4000000
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Financing details
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XOF 2,623,828,000.00 guarantee
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Customer
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ECOBANK SENEGAL
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Type of customer
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Financial institution
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Country of headquarters
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Senegal
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Project number
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CSN1738
This project is carried out with the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS).
The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union and the ACP Group. This information is given at the time of signature, without prejudice to any developments in the operation/project.
The EURIZ guarantee allocated to Ecobank Senegal benefits from the support of the European Union and specifically aims to promote financing for high-impact SMEs
Client presentation
Ecobank Senegal was set up in July 1998 as one of the first subsidiaries of Ecobank Transnational Incorporated (ETI) Group. ETI is a strategic partner of AFD Group and has been a partner of Proparco for many years, especially through the allocation of guarantees to several of its subsidiaries. ETI is the majority shareholder of Ecobank Senegal, a universal bank offering a wide range of products. It is the third largest bank in the country in terms of deposits and seventh in terms of loan portfolio.
Project description
Ecobank Senegal was set up in July 1998 as one of the first subsidiaries of Ecobank Transnational Incorporated (ETI) Group. ETI is a strategic partner of AFD Group and has been a partner of Proparco for many years, especially through the allocation of guarantees to several of its subsidiaries. ETI is the majority shareholder of Ecobank Senegal, a universal bank offering a wide range of products. It is the third largest bank in the country in terms of deposits and seventh in terms of loan portfolio.
Project impact
The EURIZ guarantee, which benefits from the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS), promotes investment and job creation in SMEs operating in social sectors (education, health), agriculture, investments with climate co-benefits and companies owned or run by women or young people.