ATHENA

the missing link in mesofinance

 ATHENA
the missing link in mesofinance

Many small and medium size enterprises (SME) in developing countries often have
difficulty in accessing adequate sustainable financing. Furthermore, they are often
disadvantaged by a lack of capacities in formulating and evaluating their projects.

The ATHENA Facility is the result of a partnership between the Belgian Investment
Company for Developing Countries (BIO), and the Centre for the Development of Enter-
prise (CDE). The aim of the partnership is to encourage sustainable economic deve-
lopment by granting financing specifically tailored to SME in ACP countries, based
on more straightforward decision-making and monitoring procedures geared to this
target group. In this way, the two institutions wish to create synergies by capitali-
sing on their complementarities as a donor on the one hand and a field actor on the
other.

With ATHENA, BIO and the CDE are committed to complementing each other in pur-
suit of a common objective: facilitating SMEs’ access to financial resources through
an approach that combines capacity building and access to credit. BIO has commit-
ted EURO 3 million for the financing of targeted enterprises and EURO 300 000 for
technical assistance. The CDE will be responsible for the analysis, guidance and local
follow-up of enterprises, making it possible to monitor investments so as to minimise
the risks.
Eligibility Criteria
The following criteria are required for an investment to
be eligible for financing by the ATHENA Facility:
• It must be implemented in an African, Caribbean, or
Pacific country (ACP) which is a signatory to the Coto-
nou* Agreement.
• It must concern a private company that already exists
or is to be set up;
• The total cost of the investment must be over EUR
100 000, with an equity contribution of at least 50%
by the project promoter;
• The investment must be technically and financially
viable;
• The investment must have a positive impact on the
local economy;
• The investment must meet the environmental and
social standards of the host country.

* Eligible countries in accordance with the agreements between BIO and the
Belgian State.

Financing
Loans granted under the ATHENA Facility have the fol-
lowing characteristics:
• Loan agreement in Euro between BIO and the local
entrepreneur;
• Amount of loan between EUR 50 000 and EUR 300 000;
• Repayment period between 3 and 7 years;
• Potential grace period of 2 years maximum on the
repayment of capital;
• Interest rate: medium-long term interest rate in Euros
in accordance with market rate;
• Securities and guarantees will be determined on a
case-by-case basis.
Technical Assistance
Under the ATHENA Facility, BIO and the CDE will be able
to grant subsidies for a package of services and advice
(feasibility, capacity building,”mise à niveau”, technical
assistance) appropriate to the requirements of each
project. This subsidy may not exceed 10% of the credit
granted.

Submission of Applications
An entrepreneur initiating a project eligible for the
ATHENA Facility may submit a financing application so-
lely by applying to the CDE Regional Office closest
to the project location. A financing application form is
available on the website of the two institutions or from
the Regional Office.
Form
The standard financing application form is available
for download on the following websites:
www.cde.int – www.bio-invest.be
Regional Offices of the CDE

SOUTHERN AFRICA REGION CARIBBEAN REGION

CDE Regional Office CDE Regional Office
Dalale House Edificio Centro de Exportación e
Plot 27 Matsitama Road Inversión De la Republica Dominicana
Private Bag 00148 (CEI-RD)
Gaborone, Botswana Avenida 27 de Febrero, esq; Avenida
Tel.: 267 31 91 230 Luperon
Fax: 267 31 91 271 Santo Domingo, Dominican Republic
E-mail: sid.boubekeur@cde.int Tel.: +1 809 4739169
Contact: Fax: +1 809 5312832
Mr Sid Boubekeur E-mai : patrick.keene@cde.int
Head of the Regional Office Contact:
M. Patrick Keene
EAST AFRICA REGION Head of the Regional Office
CDE Regional Office
LR No. 1870/111/290 Brookside Close CENTRAL AFRICA REGION
Off Brookside Grove Pending the forthcoming opening of
Westlands, Nairobi, Kenya the Regional Office, project initiators
Tel.: +254 20 4444 588/ +254 20 4444 589 can submit their applications to the
Fax: +254 20 4444 591 West Africa Regional Office or the East
Mobile: +254 724 256 208 Africa Regional Office.
E-mail: farai.majuru@cde.int
Contact: PACIFIC REGION
M. Farai MAJURU Pending the forthcoming opening of
Head of the Regional Office the Regional Office, project initiators
can submit their applications to the
WEST AFRICA REGION Caribbean Regional Office.
CDE Regional Office
Cité Sotrac Mermoz - Lot 90 - 4ème étage
B.P. 16.160 Dakar Fann, Senegal
Tel.: + 221 33 869 60 70
Fax: + 221 33 860 28 00
e-mail: gaston.baganzicaha@cde.int
Contact:
M. Gaston BAGANZICAHA
Head of the Regional Office
About BIO
The Belgian Investment Company for
Developing Countries is a Development
Finance Institution established in 2001,
within the Belgian Development Coope-
ration framework. The company’s man-
date is to foster private sector growth
in developing and emerging countries
to achieve sustainable economic and
social prosperity and alleviate poverty.
BIO provides long-term financing (equi-
ty, quasi-equity, loans, and guarantees)
to enterprises and the financial sector,
either directly or through intermediary
structures. In addition, it offers grants
for feasibility studies and technical assis-
tance programmes. BIO operates as an
additional partner to the local financial
institutions and looks for projects with
a demonstrated balance between finan-
cial return and development impact. BIO
is a member of EDFI (European Develop-
ment Finance Institutions).
BIO
Belgian Investment Company for
Developing Countries
Avenue de Tervueren 188A b4
1150 Brussels - Belgium
Tel.: 32-2-778.99.99
Fax: 32-2-778.99.90
www.bio-invest.be
This document was produced with the fiancial support of the European Development Fund. – Photo Credit: BIO, CDE. – Design: Made in V.
About the CDE
The Centre for the Development of Enter-
prise (CDE) is an ACP (Africa, Caribbean
and Pacific)/EU (European Union) joint
institution created in the framework of
the Cotonou Partnership Agreement.
The Centre provides non-financial ser-
vices (technical assistance, studies and
training) to ACP enterprises and to joint
initiatives of economic operators in the
ACP States and the EU in various eco-
nomic sectors, with the following main
objectives:
• improving the competitiveness of en-
terprises;
• support for capacity building of inter-
mediary organisations in the private
sector;
• improving the business climate by fos-
tering dialogue and/or private/public
partnerships;
• promoting investments;
• improving access to financing for SMEs.
Centre for the Development of
Enterprise
Av. Herrmann-Debroux, 52
B - 1160 Brussels
Belgium
Tel.: 32-2-679.18.11
Fax: 32-2-675.26.03
www.cde.int