Canadian DFI commits €40m to SME and climate finance
Development finance institution FinDev Canada has committed €40m (£34m) to NSIA Banque Côte d’Ivoire (NSIA), a commercial bank based in Côte d’Ivoire.
The investment marks FinDev Canada’s first in the country and is part of a €100m syndicated facility led by Citibank. KEXIM Global, a subsidiary of the Export-Import Bank of Korea, also participated in the facility.
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Around half of FinDev Canada’s investment will support small and medium-sized enterprises (SMEs), while 30 per cent of the loan proceeds will be directed to women-owned or women-led SMEs.
NSIA will allocate the remaining loan proceeds to climate finance, the Canadian development finance institution said.
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“Through our partnership with NSIA Banque and Citi, we are expanding access to finance for SMEs, women entrepreneurs, and climate investments in Côte d’Ivoire while strengthening Canada’s long-term partnerships across Africa,” said Lori Kerr, chief executive of FinDev Canada.
“By combining development impact with strategic partnerships, we can help accelerate economic growth, advance climate objectives, and unlock opportunities for communities and businesses.”
