Page 21 - Photobook Xavier Reille V5

20

FLAGSHIP

PROJECTS

BANK OF AFRICA

ONE OF THE SEVERAL

MOROCCAN CHAMPIONS WE

HAVE SUPPORTED TO EXPAND

The partnership between IFC and BMCE
(now the Bank of Africa) to strengthen
Africa’s financial sector and support
small business growth stretches back
almost 30 years. In 2018, IFC invested $60
million to help the BoA Group establish
a risk-sharing facility to support lending
to SMEs in eight African countries.
Half of the facility was earmarked for
women-run businesses and climate-
related improvements such as energy-
efficient equipment upgrades. In 2022,
IFC established a new risk-sharing facility
to help the BoA Group serve MSMEs in 12
African countries.