PROJECT

Projects

Summary of Investment Information

Project Number

47194

Company Name

ZEMEN BANK

Date SPI Disclosed

Nov 27, 2023

Country

Ethiopia

Region

Africa

Environmental Category

FI-3 - No Impact

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004
Signed : Jul 18, 2022

Sector

Commercial Banking - Trade

Project Description

 The proposed project is an unfunded trade finance facility under IFC’s Global Trade Finance Program (GTFP or the GTFP Facility) of up to US$30 million, booked under the Africa Trade and Supply Chain Recovery Initiative (ATRI), benefiting from a 25 percent pooled first loss guarantee. The purpose of the proposed IFC trade line is to support Zemen Bank’s (the Bank or Zemen) trade program. GTFP’s investment in the form of a trade line will confirm banks’ partial or full guarantees [and other trade instruments] covering payment risk on banks in emerging markets in the Federal Democratic Republic of Ethiopia for their trade-related transactions.                                                  

Associated Advisory Engagement

 n.a.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation