NAIROBI, KENYA: IFC, a member of the World Bank Group has announced over Sh5 billion ($50 million) loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges. “The loan will help Equity Bank extend much-needed support to our clients, particularly to SMEs in sectors hit hard by COVID-19. We have purposed to support and walk with them so that they can survive during this crisis, recover, and thrive after it. SEE ALSO: Addressing nursing challenges will lead to better healthcareCovid 19 Time Series“The longstanding partnership with Equity Bank underscores our commitment to Kenya’s financial sector and the wider economy, especially during these difficult economic times. Keeping businesses solvent and protecting jobs are essential parts of IFC’s response to the unprecedented challenges of COVID-19,” said Manuel Moses, IFC Country Manager for Kenya.

Source: Standard Digital July 22, 2020 15:51 UTC