33491 - Bridge Bank Group Cote d'Ivoire

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Investment Information

Project Number

33491

Company Name

BRIDGE BANK GROUP COTE D'IVOIRE

Date SPI Disclosed

Apr 25, 2014

Country

Cote D'Ivoire

Region

Africa

Projected Board Date

May 27, 2014

Environmental Category

FI-2 - Limited

Status

Pending Signing

Last Updated Date

Nov 30, 2016

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 5, 2014

Sector

Commercial Banking - General

Project Description

The proposed project aims to address the financing challenges faced by SMEs in Côte d’Ivoire by supporting Bridge Bank Group Côte d’Ivoire (“BBG CI” or the “Bank”) and consists of a trade guarantee line under the Global Trade Finance Program (“GTFP”) and a senior loan.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	6.81
Equity	3.50

Development Impact

E&S Category Rationale / Risks and Mitigation

This project has been categorized as an FI-2 in accordance with IFC''s Environmental and Social Review Procedure. Bridge Bank Group’s current portfolio entails exposures to the following sectors: trade, machinery and other industrial, construction and real estate, transport services, and food & beverages. The overall portfolio risks includes a limited number of business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site specific, largely reversible, and readily addressed through mitigation measures. For this project, Bridge Bank Group’s will be required to screen loans against the IFC Exclusion List, the environmental and social laws and regulations of Cote d’Ivoire, and the Performance Standards (based on loan amount and tenure).

The key E&S risks and impacts derive from the capacity of Bridge Bank Group to identify and manage the potential environmental and social risks associated with its lending activities, particularly to the SME sector, which typically have low environmental risks (waste management, effluent treatment, air emissions, disposal of hazardous materials, etc.) and social risks primarily related to occupational, health and safety (lack of occupational training, use of personal protective equipment, lack of emergency training, etc). Other inherent E&S country risks include, risks related to impacts on biodiversity and child labor, prevalent in Cote d’Ivoire’s agricultural sector, in particular cocoa. Additional E&S risks and impacts of the Project derive from the capacity and systems that are in place to manage these risks, and the Bank’s practices with regards to labor and working conditions. At present, Bridge Bank Group does not have an Environmental and Social Management System (ESMS) outlining the procedures, responsibilities and tools for undertaking E&S risk management of its lending activities. The bank is in the process of developing a separate HR policy but does not have a formal grievance mechanism for employees. As part of this investment, the bank will be required to implement an Environmental and Social Management System to ensure that all financing activities are in compliance with the applicable environmental and social requirements and to continue its commitment to applying the labor standards.

Task Description	Anticipated Completion Date
1. Nominate E&S Officers/Working Group	On or prior to commitment
2. Establish an ESMS including guidelines for its implementation	On or prior to commitment
3. Commit to cocoa sector policy	On or prior to commitment
4. ESMS implementation plan and staff training	On or prior to commitment and within 3 months after disbursement
5. ESMS implementation test phase	Within 6 months after disbursement
6. Develop grievance mechanism as part of human resource policy and procedures	Within 3 months after disbursement

Contacts

For Inquiries About the Project, Contact

Jean-Pierre Carpentier, Directeur Général
Bridge Bank Group Côte d’Ivoire
33, Avenue du Général de Gaulle, Abidjan-Plateau
Tel : (225) 20 25 85 85
Fax: (225) 20 25 85 99
Monday through Friday, from 8:00 AM to 4:00 PM

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

Bridge Bank Group Côte d’Ivoire
33, Avenue du Général de Gaulle, Abidjan-Plateau
Tel : (225) 20 25 85 85
Fax: (225) 20 25 85 99
Monday through Friday, from 8:00 AM to 4:00 PM

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Investment Information

Project Description

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation

Similar Projects

Contacts

Projects

Summary of Investment Information

Project Description

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

IFC's Investment as Approved by the Board

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

IFC's Role and Additionality

E&S Category Rationale / Risks and Mitigation

Environmental & Social Categorization Rationale / Key Risks & Potential Impacts

Environmental & Social Management System (ESMS)

Mitigation Measures / Environmental & Social Action Plan (ESAP)

Press-Release

Related Environmental Document

Similar Projects

Contacts

Information on E&S Complaints and Grievance Mechanisms

Disclaimer