Location of Project and Description of Site : BICEC is registered and licensed as a commercial bank in Cameroon.
Private sector development: By providing BICEC with the proposed long term facility, IFC will, through the bank, support growth of real sectors such as agribusiness, housing and infrastructure, thus fostering private sector development in Cameroon.
In banking, BICEC, Societe Generale de Banque au Cameroun (SGBC), and Credit Agricole (all subsidiaries of French banks) dominate the Cameroon market, with 55% of deposits.
French banks such as Societe Generale, Credit Lyonnais, Banques Populaires, and the Natexis BICEC Group are some of the major foreign banks operating in Cameroon.
Under the proposed terms of the Facility, BICEC
will lend to Producer Organizations that satisfy certain criteria set by the Bank and IFC.