47434 - GTFP ATRI CORIS SENEGAL

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Summary of Investment Information

Project Number

47434

Company Name

CORIS BANK INTERNATIONAL SENEGAL

Date SPI Disclosed

Oct 14, 2025

Country

Senegal

Region

Africa

Projected Board Date

Nov 13, 2025

Environmental Category

FI-3 - No Impact

Status

Pending Signing

Last Updated Date

Oct 16, 2025

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004

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. The purpose of the proposed IFC trade line is to reduce Coris Bank International Senegal’s (the “Bank”, “Issuing Bank” or “CBI SN”) 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. The GTFP limit will be booked under the African Trade and Supply Chain Finance Recovery Initiative (ATRI) umbrella, which is supported by the International Development Association Private Sector Window’s Blended Finance Facility (“IDA PSW-BFF”) (the project).

Sponsor / Cost / Location

Development Impact

The project builds on GTFP's global platform, increasing access to trade finance to emerging markets. The Project will provide increased access to trade finance to the Issuing Bank's customers, including both corporates and SMEs. On the market side, the project will further connect the Issuing Bank's cross border connections, increasing the country's integration through both financial and real sector channels. It will help to link more traders to other countries and connect the country's financial markets more deeply.

Financial additionality (financing structure): By joining the GTFP, the Bank will have access to a network of over 400 global and regional confirming banks which the Bank wouldn’t have otherwise. Non-Financial additionality (Knowledge, Innovation, and Capacity Building): The project aims to enable the Bank to benefit from IFC’s technical expertise and best practice recommendations.

E&S Category Rationale / Risks and Mitigation

This Project will support short-term trade finance activities. The E&S risks and impacts associated with these activities are considered low and the project has therefore been classified as a category FI-3 project in accordance with IFC’s Sustainability Policy. The trade finance activities supported by the Project will be required to meet the requirements of the IFC’s Exclusion List and other exclusions deemed necessary. The Project will not support any activities with significant E&S concerns such as: (a) involuntary resettlement; (b) risk of adverse impacts on Indigenous Peoples; (c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage; or (d) significant occupational health and safety risks. It will also not support any activities related to upstream oil & gas production and activities related to coal such as coal mining, coal transportation, coal-fired power plants, or infrastructure services exclusively dedicated to support any of these activities. The project will not support palm oil that is not RSPO Certified Sustainable Palm Oil (CSPO). IFC will review the details of the underlying trade transactions to confirm that they do not include activities in the IFC Exclusion List and any other exclusions.

Contacts

For Inquiries About the Project, Contact

CORIS BANK INTERNATIONAL SENEGAL
Khalifa DIAO
Head of Treasury
+221 78 711 62 97
kdiao@coris-bank.com

https://senegal.coris.bank

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