EU, EBRD roll out $30.5 million facility to support SMEs in Côte d’Ivoire 

The European Union and the European Bank for Reconstruction and Development have introduced a new financing facility in Côte d’Ivoire aimed at easing access to credit for small businesses, a sector seen as key to jobs and growth. 

Announced Wednesday, the Côte d’Ivoire Financing Facility has a capacity of up to €26.5 million ($30.5 million). It targets micro, small and medium-sized enterprises, which often struggle to secure funding despite their role in the economy. 

The program forms part of the EU’s Global Gateway strategy, with a focus on improving financing conditions while supporting employment and private sector development.

Loans and advisory support 

Under the programme, the EBRD will extend €20 million ($23 million) in loans to eligible businesses, with partner banks expected to provide an additional €4 million ($4.6 million) in co-financing. The EU will add €2.5 million ($2.8 million) in technical assistance. 

That support will help businesses improve how they prepare loan applications, structure investment projects and adopt better corporate practices. 

Francis Malige, managing director for financial institutions at the EBRD, said the combination of funding and advisory services is designed to help firms secure financing over the long term while adapting to changing market conditions.

A growing role for SMEs 

Small and medium-sized enterprises accounted for about 23% of GDP and formal employment in 2021, according to official figures. In recent years, authorities have stepped up efforts to support the sector, including through the PEPITE business programme launched in 2022. 

The national SME agency said it supported more than 12,000 businesses in 2024, underscoring the sector’s expanding role in the economy. 

The new facility is expected to reach about 700 businesses, with roughly 100 gaining access to loans. It also aligns with the country’s development priorities for 2026–2030, including job creation and support for private enterprise.

Expanding footprint in Africa 

The EBRD, established in 1991, has invested more than €220 billion ($253.3 million) across over 7,800 projects in dozens of economies. While its early work focused on Central and Eastern Europe, the bank has broadened its reach in recent years, including a growing presence in sub-Saharan Africa. 

Through programmes like this, the institution is increasing its support for businesses that often struggle to access funding but remain central to economic activity.