PROJECT

Projects

Summary of Investment Information

Project Number

47590

Company Name

ACEP MADAGASCAR S.A

Date SPI Disclosed

Mar 23, 2023

Country

Madagascar

Region

Africa

Projected Board Date

Apr 28, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 5, 2024

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Aug 1, 2023
Signed : Mar 27, 2024
Invested : Jun 3, 2024

Sector

Microfinance and Small Business - Non Commercial Banking

Additional Project Attributes

Blended Finance

Project Description

The proposed project consists of a 3-year senior unsecured loan of up to US$2.5 million in Malagasy Ariary to ACEP Madagascar S.A. (“ACEP” or the “Company”) to enable the provision of funding to micro and small-sized enterprises (MSEs) that have been negatively impacted by the COVID-19 pandemic in Madagascar (“the Project”). The Project will be processed under IFC’s Base of the Pyramid (BOP) COVID-19 Crisis-Response Program (Project #44915) and will be supported by IDA Private Sector Window (PSW) Blended Finance Facility and IDA-PSW Local Currency Facility.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation