The transaction marks the international financier’s increased lending to local banks, with the institution having provided billions of shillings to companies such as Co-op Bank. In addition to disbursing the loan, IFC will offer advisory services to the bank to strengthen its capacity to serve SMEs. Set criteriaFirms that are expected to benefit from Equity’s onward lending of the IFC loan are those fitting the set criteria such as having between 10 and 300 employees or annual sales of Sh10 million to Sh1.5 billion. The loan size per borrower will range from Sh1 million to Sh200 million. KCB #ticker:KCB and Equity are among the banks that have borrowed from international financiers to fund their long-term lending business.

Source: Daily Nation February 25, 2019 07:18 UTC