Proparco’s financing will strengthen BNI Madagascar’s additional equity and support its development strategy – particularly for SMEs and private customers.
PROPARCO is supporting the strengthening of the capital base of BNI Madagascar and its development in order to increase access to banking services for people in Madagascar. PROPARCO is also supporting the implementation of an environmental and social management system in the bank.
This operation will increase the local financing capacity in a country where long-term resources are not very well developed. It will support the development of the local economic base in key sectors for the country’s development. In addition, it will help improve access to financial services in a country where the rate of use of the banking system is extremely low. As BNI’s activities have varying E&S risks, the environmental and social management system will allow these various levels of risk to be assessed and managed. This technical assistance will strengthen the positive impact of PROPARCO’s financing with the improvement of E&S systems in terms of IFC standards.
Furthermore, the implementation of an environmental and social management system will allow the various levels of E&S risks to be assessed and managed.