The African Development Bank Group and Bridge Bank Group Côte d’Ivoire have signed an agreement to establish a €30 million financing facility aimed at supporting small and medium enterprises (SMEs) in Côte d’Ivoire, with a particular emphasis on women-led businesses. This facility is designed to provide Bridge Bank Group Côte d’Ivoire with the financial resources necessary to meet the investment needs of enterprises operating in priority sectors of the Ivorian economy, notably agro-industry, while also enhancing the bank’s international trade financing activities. By targeting SMEs, which constitute a substantial share of formal businesses in Côte d’Ivoire, the initiative seeks to strengthen the economic role of these enterprises and explore emerging markets such as industrial production, education, and healthcare.
Signed on September 19 in Abidjan, the financing partnership consists of three components. These include a €10 million subordinated loan to reinforce Bridge Bank Group Côte d’Ivoire’s capital base, a €10 million guarantee for trade financing to support the import and export requirements of Ivorian SMEs, and a €10 million portfolio guarantee specifically aimed at promoting women-led or women-owned enterprises.
Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank, emphasized that the financing contribution is a critical aspect of the partnership. Strengthening SME capacities and supporting women entrepreneurs are central to the initiative, facilitating market access and contributing to financial inclusion, gender equality, private sector development, and regional integration, while aligning with the National Private Sector Development Plan.
In addition to financing, Bridge Bank Group Côte d’Ivoire will receive technical assistance from the Affirmative Finance Action for Women in Africa (AFAWA). Melissa Basque-Roux, AFAWA coordinator, highlighted that the partnership, backed by the Women Entrepreneurs Finance Initiative (We-Fi), will unlock up to €20 million in direct financing for women entrepreneurs in key sectors such as local transformation and essential social services. The technical assistance will further refine the understanding of women entrepreneurs’ specific needs to tailor banking products and services accordingly.
Ehouman Kassi, General Manager of Bridge Bank Group, stated that the strategic agreement represents a significant milestone in supporting the development of the national economy. By enhancing the bank’s capacity to finance SMEs, particularly those led by women, the initiative underscores the group’s commitment to inclusive and sustainable growth in alignment with the National Development Plan.
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