PROJECT

Projects

Summary of Investment Information

Project Number

47430

Company Name

CORIS BANK INTERNATIONAL BENIN

Date SPI Disclosed

May 20, 2024

Country

Benin

Region

Africa

Projected Board Date

Jun 20, 2024

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 : Sep 14, 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$10 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 reduce Coris Bank International Benin’s (the “Bank” or “CBI BN”) reliance on CBI Burkina Faso affiliate and to support the strategic plan of the Bank’s management to grow its international trade business, knowing the business sector is mostly cash-driven and suffers from the de-risking of Correspondent or Confirming Banks.                                                  

Associated Advisory Engagement

                              

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation