The financing is part of a €100 million syndicated facility led by Citibank and will channel funding to SMEs, women-led businesses and climate projects in Côte d'Ivoire.
FinDev Canada said it has signed a €40 million loan to NSIA Banque Côte d'Ivoire S.A., marking its first direct investment in Côte d'Ivoire and joining a €100 million syndicated credit facility led by Citibank with participation from KEXIM Global (Singapore) Ltd. The development finance institution said the funding is intended to widen access to financial services for underserved and shock-vulnerable groups, especially small and medium-sized enterprises, with 50% of the loan earmarked for SMEs and 30% for SMEs owned or led by women. NSIA will direct the remaining share to climate finance, including loans for photovoltaic projects in commercial, industrial and office buildings, as Côte d'Ivoire faces acute climate vulnerability and needs an estimated $10 billion in climate mitigation investment to meet its nationally determined contribution. The partners framed the transaction as support for inclusive growth, women's economic participation, renewable energy and longer-term Canada-Africa ties.