25410 - AccesBanque Madagascar

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Proposed Investment

Project Number

25410

Company Name

ACCESBANQUE MADAGASCAR

Date SPI Disclosed

Mar 14, 2007

Country

Madagascar

Industry

Financial Markets

Projected Board Date

Apr 19, 2007

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Regional Industry - FIG Africa

Environmental Category

Previous Events

Approved : Apr 19, 2007
Signed : May 25, 2007
Invested : Aug 16, 2007

Project Description

The project consists of a senior loan (in local currency, if feasible), an equity investment and a technical assistance grant to AccèsBanque Madagascar. AccèsBanque Madagascar will be a new microfinance bank sponsored by LFS Financial Systems (LFS), a German consulting firm with recognized expertise in microfinance, and AccessHolding, its associated investment company. AccèsBanque Madagascar will provide financial services to urban and semi-urban micro and small enterprises as well as low-income groups in the Madagascar market. It is expected that after five years, the bank will have eight branches, a portfolio comprising 15,000 customers, and an outstanding loan portfolio of $17.8 million.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	1.80
Equity	0.46

Development Impact

The project will have a high development impact considering that microfinance has been shown to play a major positive role in reducing poverty and unemployment in developing countries. The initiative will jump-start the provision of microfinance services in Madagascar, where access to finance is sporadic for low-income populations. By creating a new institution able to sustain microfinance on commercial terms and following best practices, the project has the potential to generate a substantial increase in the long-term availability of financial services for the poor. The project will also show local banks that sound microfinance can be profitable and will demonstrate the commercial merits of transparency, HR investments and strategic planning. As a consequence, it is expected that the interest of local banks in the microenterprise and SME sector will be strengthened.

This project involves IFC support for the business of microfinance, and has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. Considering the nature of activities supported, the project will be required to:

- Develop a procedure relevant to its business process, prior to disbursement, that is satisfactory to IFC, and that ensures that all its investments are screened and processed to avoid supporting activities on the IFC Microfinance exclusion list;
- Identify qualified persons to manage and implement the procedure;
- Demonstrate commitment and resources to implementing the procedure;
- Submit a periodic report to IFC as per a format to be provided by IFC.

Contacts

For Inquiries About the Project, Contact

Bernd Zattler, Managing Director
LFS Financial Systems
Linienstr. 126 • 10115
Berlin, Germany
Website: http://www.lfs-consulting.de/

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Proposed Investment

Project Description

Sponsor / Cost / Location

Development Impact

Similar Projects

Contacts

Projects

Summary of Proposed Investment

Project Description

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

Board Approved IFC Investment

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

IFC's Expected Development Contribution

Environmental and Social Issues - Category

Press-Release

Related ESRS/ERS

Similar Projects

Contacts

Disclaimer