PROJECT

Projects

Summary of Investment Information

Project Number

39371

Company Name

UNION DES MUTUELLES ALLIANCE DE CREDIT ET D'EPARGNE POUR LA PRODUCTION

Date SPI Disclosed

Apr 27, 2017

Country

Senegal

Region

Africa

Projected Board Date

May 31, 2017

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jan 15, 2022

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Jun 2, 2017
Signed : Jun 9, 2017
Invested : Jul 14, 2017

Sector

Microfinance and Small Business - Non Commercial Banking

Additional Project Attributes

Blended Finance

Project Description

The project aims at supporting the growth of Union des Mutuelles Alliance de Credit et d'Epargne pour la Production (UM-ACEP) Senegal, a successful microfinance institution in Senegal, in expanding its lending operations in the agri-finance and MSME space. The proposed project consists of a local currency 4-year senior loan of up to XOF4 billion. 50% of the facility is expected to be on-lent to MSMEs in the agriculture sector. 

The project includes a possible mobilization of resources from the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism to support sustainable agriculture in developing countries.

 

Associated Advisory Engagement

 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation