Through an agreement with the European Investment Bank (EIB: www.eib.org) Ecobank is supporting small and
medium sized businesses (SMEs) and enterprises with less than 3 000 employees (MidCaps) by providing access
to an invaluable source of finance available on favourable terms, with particular support for the sectors
most impacted by the COVID-19 pandemic. The agreement also provides technical assistance under the African
Women Rising Initiative programme of the EIB with gender finance focused training and capacity building for
lending to women entrepreneurs.
The EIB is the long-term lending bank of the European Union; its role is to finance investment projects in
support of EU policy objectives. The EIB is strengthening its support for SMEs and MidCaps by helping this
important sector to access vital new lines of credit.
Ecobank is committed to providing a range of initiatives that support the growth and success of Africa’s
Small and Medium-sized Enterprises and create employment opportunities. The funding solutions offered with
support from EIB will help to tackle challenges triggered by the COVID-19 pandemic, and to unlock economic
and social opportunities across Sub-Saharan Africa. The loans will also support the impetus to grasp the
immense growth opportunities from the African Continental Free Trade Area vast single market.
Who can apply ?
Funding is aimed at private sector companies with less than 3,000 employees.
Most economic sectors are eligible with a few exceptions, amongst which production of weapons and
ammunition, arms, military or police equipment or infrastructures, equipment or infrastructure limiting
people’s individual rights and freedom, activities which give rise to environmental impact, activities
considered ethically or morally controversial or prohibited by national legislation, activities targeting
the production or sale of goods which are the subject of an act infringing a trade mark or a geographical
indication, gambling and tobacco related activities.
SMEs and women-owned or run enterprises are urged to apply.
What can the funding be used for ?
The funding can be used to finance all investments and expenditures that are incurred in the context of the
development of an SME or a MidCap i.e.:
- Tangible investments: purchase, renovation or extension of tangible assets, with some restrictions
concerning land purchases.
- Intangible investments: particularly the expenditure involved in R&D, purchase of process licenses and
software
- Medium and long-term working capital requirements needed for the operational activity of the SME or
MidCap.
What are the benefits of EIB-supported loans ?
- Your business may benefit from a longer term facility than is usually available, or a or repayment
frequency tailored to suit the circumstances and cash-flow requirements of your business.
- It allows you to invest significantly in your business without adversely affecting your cash-flow or liquidity.
For more details, kindly contact us.