Islamic Development Bank arm backs Benin SMEs with €25mn Shariah-compliant facility

• €25mn Islamic finance facility targets Benin’s SMEs and job creation
• Deal seen as credit-neutral to slightly positive for investors

COTONOU, BENIN – The Islamic Development Bank’s private-sector arm has extended a €25 million Shariah-compliant financing line to Coris Bank International Benin to boost credit access for small businesses.

The Islamic Corporation for the Development of the Private Sector (ICD), part of the Islamic Development Bank (IsDB) Group, said the four-year facility would provide medium-term funding to small and medium-sized enterprises (SMEs) and selected corporate clients in Benin, where access to finance remains a key constraint on growth.