Coris Bank International Côte d’Ivoire (CBI CI) has secured a senior loan of €30 million, or approximately $34.3 million, from Proparco, a private sector financing institution affiliated with the French Development Agency (AFD). The announcement was made on Monday, June 2, 2025.
This financing aims to bolster the bank's capacity to extend more credit to small and medium enterprises (SMEs) in Côte d’Ivoire. It complements the Trade Finance guarantee renewed in April 2025 between the two partners, both initiatives intended to ease SMEs' access to finance.
"We aspire to strengthen our partnership with Proparco in the future, especially in the area of international trade, to continue our commitment to African entrepreneurship and to actively contribute to the development of sustainable value chains," said Idrissa Nassa, President of Coris Group.
The partnership between Coris Group and Proparco commenced in 2021 with an initial Trade Finance guarantee given to Coris Bank Burkina Faso. It has since expanded to other subsidiaries of the group, including Senegal, Togo, Benin, and more recently Chad. CBI CI is currently the group's second-largest subsidiary by total balance sheet size, following Burkina Faso.
A survey conducted in 2016 among SMEs in Côte d’Ivoire revealed that 25 percent identified access to financing as the greatest barrier to growth. The estimated financing deficit of these companies stands at CFA1,368.2 billion ($2.4 billion), according to a study by the International Finance Corporation.
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Egypt signs deals to import up to 290 LNG cargoes over 30 months, starting in July Trafigura,...
(AfDB)-Egypt's first integrated solar and battery storage plant will deliver dispatchable clean ener...
Lion Group to explore and exploit gold, copper, and manganese in Algeria Malaysian firm plans...
This launch is a significant milestone that highlights Rwanda's ongoing digital transformation. With...
Key Highlights Niger’s government has seized full control of SOMAÏR, its only active uranium mine, stripping Orano of its 63.4% stake. Officials...
Key Highlights: • Olam Agri to onboard 5,000 small-scale farmers in Kwara State under a new soybean supply initiative. • Partnership with IDH and...
Key Highlights• Ivory Coast ends TSDAR, a petroleum tax introduced in 2018 to reduce SIR’s debt.• Government to redirect two-thirds of revenue to...
Key Highlights: • Sri Lankan textile group, Star Garments, inaugurates its first factory in Africa with an anticipated 4,520 jobs by 2030.•...
Tucked away in northeastern Chad, deep in the heart of the Sahara Desert, the Ennedi Massif stands as an extraordinary natural and cultural marvel. This...
Kakum National Park is a protected area located in Ghana’s Central Region, near the city of Cape Coast. Established as a forest reserve in 1931 and...