FMO has agreed to provide private credit finance of €5-million to Fin’Elle, a subsidiary of the Cofina Group. Fin’Elle is a micro-finance company that supports women entrepreneurs in Côte d’Ivoire by providing access to financial services. The funding will be used to on-lend to this market segment and also facilitate access to credit for many women entrepreneurs and SMEs active in agricultural value-chains with strong social and environmental impact. Fin’ELLE already supports more than 5,000 women led businesses within Côte d’Ivoire.
FMO is a Dutch development bank that supports sustainable private sector growth in developing and emerging markets by investing in businesses, projects and financial institutions. FMO was founded in 1970 and is a public-private partnership, with 51% of shares held by the Netherlands government and 49% held by commercial banks, trade unions and other members of the private sector. FMOs strategy is aligned with the United Nations Sustainable Development Goals (SDGs).