The Road to the SDGs

X Through a combination of instruments specific to each of these agencies — debt, guarantee, equity and grant — ITFC expects to increase the funding envelope available for SMEs while reducing the cost. After these two successful pilots, the programme will launch in Côte d’Ivoire. ACHIEVEMENTS X The Burkina Faso pilot, which spanned eight months in 2018, aimed to: – Provide a line of finance to CBI in Burkina Faso – Select and train up to 25 SMEs that were previously rejected by CBI – Support successful SMEs and resubmit applications for financing – Achieve successful resubmission of 25% of applications to obtain financing – Launch the banking component with CBI Burkina Faso. X For the Senegal pilot in November 2019, approximately 100 SMEs, including several led by women, were selected based on a list of pre approved criteria, such as the overall maturity level of the project. X Up to 200 multisector Senegalese SMEs will be selected by the partners to undergo a 15-month-long pilot programme. X The Senegal pilot’s aims include: – Selection and training of up to 200 SMEs in 2020 and 2021 – Support for successful SMEs and resubmitting applications for financing – Obtaining financing for 25% of resubmitted applications – Launch of the banking component with CBI Senegal. INVESTMENT X IsDB’s investment in developing SMEs is paying dividends, in particular through pilot projects launched by the programme. For example, the outcomes of the Burkina Faso pilot project include: – US$ 8 million trade finance line granted to CBI – 60 SMEs selected from CBI rejection portfolio – 22 SMEs shortlisted and trained, and credit applications resubmitted – Financing received for 35% of trained SMEs with resubmitted applications – US$ 1 million financing from CBI approved for SMEs – US$ 300,000 in credit currently under appraisal – SME assessment tool developed for CBI between Q1 and Q3 of 2020. B U R K I N A F A S O P I L O T US$8 million trade finance line granted to CBI US$1 million financing from CBI approved for SMEs [ 99 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S