The capital injection is designed to reshape the local financial landscape by channeling resources into three priority areas: small and medium-sized enterprises, women-led businesses, and renewable energy projects. Under the agreement, half of the funds are earmarked for SMEs, while 30% will support women entrepreneurs, addressing persistent barriers to credit and economic growth in the region.
FinDev Canada Backs NSIA Banque Côte d’Ivoire with EUR 40 Million Loan
Canada’s development finance institution has finalized a EUR 40 million investment in NSIA Banque Côte d’Ivoire, marking its first direct entry into the Ivorian market. The loan, part of a broader EUR 100 million syndicated facility led by Citibank, targets underserved businesses and urgent climate mitigation efforts across the country.
Beyond financial inclusion, the investment responds to the country’s significant climate vulnerability. Côte d’Ivoire requires an estimated USD 10 billion to meet its climate mitigation goals, and NSIA will utilize the remaining loan proceeds to finance photovoltaic installations for commercial and industrial infrastructure. This syndication, which includes participation from KEXIM Global (Singapore) Ltd., highlights a coordinated effort to strengthen the regional financial ecosystem while advancing Canada’s broader Africa Strategy.
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