FinDev Canada invests EUR 40 million in NSIA Banque Côte d'Ivoire S.A. to support financial inclusion and climate mitigation

MONTREAL, Aug. 6, 2026 /PRNewswire/ -- Canada's bilateral development finance institution, FinDev Canada, announces the signing of a EUR 40 million loan to NSIA Banque Côte d'Ivoire S.A. ("NSIA"), a leading bank in Côte d'Ivoire. This represents FinDev Canada's first direct investment in the country and an opportunity to advance Canada and Côte d'Ivoire's shared economic prosperity and foreign policy objectives.

The loan is part of a EUR 100 million syndicated facility led by Citibank with participation from the KEXIM Global (Singapore) Ltd. ("KGS"). FinDev Canada's contribution will support NSIA in improving access to financial services for underserved populations vulnerable to economic and environmental shocks, including small and medium-sized enterprises (SMEs) and women-owned or led SMEs (WSMEs).

SMEs continue to face barriers to growth, job creation, and participation in Côte d'Ivoire's economic development. In alignment with its strategic objectives, NSIA aims to strengthen financial support to the private sector by allocating 50% of the loan proceeds to SMEs.

NSIA is committed to advancing gender equality through tailored financial and non-financial solutions and services that strengthen women's economic participation and financial inclusion. As a result, 30% of the loan proceeds will be directed to WSMEs.

Côte d'Ivoire is highly vulnerable to the impacts of climate change, disrupting agricultural output and food security and requires an estimated USD 10 billion for climate mitigation to meet its Nationally Determined Contributions. NSIA will allocate the remaining loan proceeds towards climate finance. The bank will provide loans targeting photovoltaic projects in commercial, industrial, and office buildings, supporting renewable energy and energy efficiency initiatives in the country.

"This investment demonstrates how FinDev Canada works with leading financial institutions to move capital into priority markets. Through our partnership with NSIA Banque and Citi, we are expanding access to finance for SMEs, women entrepreneurs, and climate investments in Côte d'Ivoire while strengthening Canada's long-term partnerships across Africa. By combining development impact with strategic partnerships, we can help accelerate economic growth, advance climate objectives, and unlock opportunities for communities and businesses," said Lori Kerr, CEO, FinDev Canada.

"Canada is committed to building stronger partnerships that promote inclusive and sustainable economic growth, in line with our Africa Strategy. Through FinDev Canada's investment in NSIA Banque Côte d'Ivoire, we are expanding access to finance for small businesses, including women-led enterprises, while supporting climate action and shared prosperity," Anita Anand, Minister of Foreign Affairs.

"This partnership with FinDev Canada marks an important milestone in our ambition to foster more inclusive and sustainable growth in Côte d'Ivoire. It will strengthen our ability to support small and medium-sized enterprises, promote women's entrepreneurship, and finance projects that contribute to the country's energy transition. By deploying these resources to benefit businesses and communities, NSIA Banque Côte d'Ivoire reaffirms its commitment to supporting those who create value and help shape the future of our country," Léonce Yacé, Chief Executive Officer, NSIA Banque Côte d'Ivoire.

"Citi is proud to lead this landmark transaction, partnering with FinDev Canada to support NSIA's vital work in advancing financial inclusion in Côte d'Ivoire. We believe this to be of paramount importance to building out the regional financial ecosystem," said Pape Sall, Citi West & Central Africa Head.

"KGS is pleased to participate in this transaction as part of its commitment to supporting the global sustainability transition and fostering regional growth. Through KGS participation in this financing, KGS aims to support sustainable agricultural development and enhance social infrastructure in the region," said Lee Do Hyung, CEO and Managing Director, KGS.

About FinDev Canada       

FinDev Canada is a development finance institution that invests in emerging markets to deliver development impact, financial returns, and shared economic prosperity. We provide debt, equity, blended finance, technical assistance, and advisory across infrastructure, agribusiness, and the financial industry in developing economies—to support development through the private sector. Find out more about FinDev Canada at www.findevcanada.ca.   

About NSIA Banque Côte d'Ivoire

A subsidiary of NSIA Holding Financière, NSIA Banque Côte d'Ivoire is one of the country's leading commercial banks. The Bank provides a comprehensive range of financial services to individuals, small and medium-sized enterprises (SMEs), and large corporations through a network of over 80 branches. Committed to advancing financial inclusion, entrepreneurship, equal opportunities, and sustainable finance, NSIA Banque Côte d'Ivoire plays an active role in supporting the country's economic and social development.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi

About KEXIM Global (Singapore) Ltd.

KGS is a subsidiary of the Export-Import Bank of Korea (Korea Eximbank), providing bespoke financing solutions for projects worldwide. Our sector coverage spans both traditional and emerging industries, including Public-Private Partnerships (PPP), Power & Utilities, LNG, and Transportation Infrastructure, as well as the EV value chain, Green Hydrogen/Ammonia, Renewable Energy, and Digital Infrastructure. 

Additional information can be found at https://keximglobal.com.sg/ 

LinkedIn: https://www.linkedin.com/company/kexim-global-singapore-ltd/

Media Contact: FinDev Canada: Media@findevcanada.ca