In Burkina Faso, where agriculture contributes 34% of GDP, the group of Coris Bank International is leading the funding of agricultural value chains.
In 2015, USAID supported the Trade Hub program initiated to facilitate access to credit for small processors (agri-food & agribusiness) and exporters who do not have access to bank financing in the countries where Coris Holding's subsidiaries are located.
In September 2015, Coris Holding and Trade Hub signed a technical assistance partnership worth 10 billion CFA which enabled Coris Bank International to initiate training courses for his employees among other activities.
The objective was to enable the group's employees to easily assess procedures for pooling credit risks in the agricultural sector while ensuring professional efficiency and enhancing the bank's operations.
A year later, the group's employees were trained on different modules, namely: the definition of agricultural value chains, the risks of agricultural credit; the structuring of financing mechanisms; risk analysis related to the financing of agribusiness promoters etc.
The language mastered, the task become easier for the institution to better accompany and finance agricultural value chain.
A new credit line of 10 billion from BOAD
CBI's commitment to agricultural sector is well established.
Wednesday, at the 110th meeting of the Board of Directors of the West African Development Bank (WADB) in Ivory Coast, a short-term line of 10 billion CFA was set up in favor of Coris Bank International (CBI) for the refinancing of aid granted for the importation of agricultural inputs in Burkina Faso.
According to WABD, "this competition will strengthen CBI's short-term financial resources and enable it to support the cash requirements of input suppliers".
"The line will contribute in particular to the purchase of 32,619 tons of phosphates and 12,000 tons of NPK which will be marketed in Burkina Faso within the framework of the seasons cotton and cereals", specifies the institution.
This model, developed by Coris Group President Idrissa Nassa, can still inspire other WAEMU banks to get engaged in the financing of agricultural value chains in member states.