Eco-Chad is majority-owned by Ecobank Transnational Incorporated (“ETI”), which has over 70% of the Bank’s share capital. ETI, incorporated in 1985 in Togo is a leading regional private financial services group in West and Central Africa. Today, ETI is present in 30 African countries predominantly in West and Central Africa. The remaining shares are held by a mix of institutional and individual investors.

The proposed IFC investment is a XAF 1.5 billion A loan for IFC own account.

3.08 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	3.08
Equity

* These investment figures are indicative

The Bank is headquartered in N’Djamena; it operates through 12 branches, mostly located in N’Djamena and other parts of Chad.

IFC's investment in Ecobank is expected to provide the Bank with medium-term financing in local currency to help it better support projects that require longer maturities than currently available in Chad, thus promoting development and economic growth.

IFC will provide medium term lending in local currency, a funding instrument that is hardly available to the banking sector in Chad. IFC’s involvement in the project will also demonstrate its commitment to the fragile and conflict-affected countries in Africa by helping them (i) rebuild their private sectors (ii) increase stability (iii) reduce poverty.

This project has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. During appraisal, IFC will analyze the FI portfolio and the activities proposed to be supported with IFC financing for types of transactions, size, tenor and industry sectors and determine the Applicable Performance Requirements, if any, that would include a combination of the IFC FI Exclusion List, the applicable National Social and Environmental Laws and regulations and likely the IFC Performance Standards. IFC will also appraise the FI’s labor practices according to the IFC Performance Standard 2: Labor and Working Conditions, and review the capacity of the FI to manage social and environmental risks and to establish and maintain a Social & Environmental Management System (SEMS). If required, IFC will suggest Supplemental Actions to address any gaps in the SEMS. Based on the review the project will be required to: (i) develop a Social & Environmental Management System (SEMS), prior to disbursement to the satisfaction of IFC, (ii) identify responsible, qualified persons to manage and implement the SEMS, (iii) commit to implement the SEMS, to ensure that the activities supported by IFC financing are in compliance with the Applicable Performance Requirements, (iv) demonstrate commitment to applying the labor standards established by the IFC Performance Standard 2, and (v) submit a periodic report to IFC as per a format to be provided by IFC.