Press release: https://www.ifc.org/en/pressroom/2025/ifc-and-alcb-fund-invest-in-west-africa-s-first-gender-bond-issued-by-ecobank-c-te
Social media: https://www.linkedin.com/feed/update/urn:li:activity:7305859132186648576/ and https://www.linkedin.com/feed/update/urn:li:activity:7305705542621036544/
Abidjan, Côte d’Ivoire, March 11, 2025 – To boost access to finance for women-led SMEs in Côte d’Ivoire, IFC and the Africa Local Currency Bond Fund (ALCB Fund) today announced an anchor investment in a gender bond from Ecobank Côte d’Ivoire, the first gender bond to be issued in the West Africa Economic and Monetary Union (WAEMU).
Proceeds from the bond will help Ecobank Côte d’Ivoire provide almost 1,200 loans to women-owned small and medium-sized enterprises (WMSMEs) in Côte d’Ivoire, supporting growth and job creation and helping to address the large credit gap women-owned businesses face in the country.
Ecobank’s gender bond is only the second to be issued in Africa following the IFC-supported NMB Bank’s gender bond. A gender bond is a debt instrument that channels funds specifically towards projects and initiatives aimed at promoting gender equality, women's empowerment, and closing the gender gap.
The ALCB Fund, a pan-African investor in local-currency corporate bonds, and IFC have jointly invested XOF 4.9 billion ($7.8 million) in the bond, which has a total issuance of XOF 10 billion ($16.0 million). The ALCB Fund provided financing on behalf of both the Fund and IFC, with IFC in turn providing a credit guarantee equal to XOF1.25 billion ($2 million).
The investment supports Ecobank’s Ellevate, a specialized banking program designed to support women entrepreneurs by providing tailored financial products, capacity-building, and business advisory services. In addition to the investment, IFC will also provide advisory support to Ecobank Côte d’Ivoire to enhance the bank's ability to increase access to finance for WMSMEs.
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Ecobank is a Member of the SME Finance Forum
