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        EAC MICROFINANCE GLOBAL AUTHORISATION

        Signature(s)

        Amount
        € 50,000,000
        Sector(s)
        Services : € 50,000,000
        Signature date(s)
        19/12/2011 : € 4,000,000
        24/09/2013 : € 5,000,000
        24/09/2013 : € 6,000,000
        12/06/2012 : € 7,000,000
        27/12/2012 : € 8,000,000
        10/04/2012 : € 20,000,000
        Other links
        Related press
        Kenyan business to benefit from EUR 7 million EIB funding to K-REP Bank

        Summary sheet

        Release date
        8 February 2013
        Status
        Reference
        Signed | 08/02/2013
        20110217
        Project name
        Promoter - financial intermediary
        EAC MICROFINANCE GLOBAL AUTHORISATION
        A number of financial intermediaries, including Co-operative Bank of Kenya Ltd, Faulu Kenya DTM, K-Rep Bank Kenya, DFCU Uganda, Centenary Rural Development Bank Uganda and KCB Bank Rwanda Ltd.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 50 million
        EUR 100 million
        Location
        Sector(s)
        Description
        Objectives

        The purpose of the East Africa Community (EAC) Microfinance Global Authorisation is to establish a lending framework targeting financial intermediaries with a focus on micro entrepreneurs and small enterprises in rural and urban regions in EAC countries.

        On-lending to micro- and small-enterprises for the purpose of productive financing. The EIB financing should be dedicated to fund working capital and investment capital needs of final beneficiaries.

        Environmental aspects
        Procurement

        Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate. Intermediaries to ensure compliance with Client Protection Principles.

        Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

        Comments

        Eligible sectors include production, services, trade and agro-industry. Household needs and consumer loans (including salary loans) are not eligible.

        Other links
        Related press
        Kenyan business to benefit from EUR 7 million EIB funding to K-REP Bank

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        News & Stories

        Link to source
        Related press
        Kenyan business to benefit from EUR 7 million EIB funding to K-REP Bank
        Other links

        Photogallery

        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB
        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB
        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB
        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB
        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB
        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB
        Small shop in Nairobi funded by local financial institutions under the EIB’s East Africa microfinance programmes; the EIB works in East Africa with 11 microfinance institutions, supplying EUR 125 million of credit
        EAC Microfinance Global Authorisation
        Photographer: David Blumenfeld
        ©EIB

        General enquiries and comments

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        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
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