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CO-OP BANK MICROFINANCE LOAN

Signature(s)

Amount
€ 2,000,000
Countries
Sector(s)
Kenya : € 2,000,000
Services : € 2,000,000
Signature date(s)
25/11/2003 : € 2,000,000
Link to source
Data sheet
CO-OP BANK MICROFINANCE LOAN
Other links
Summary sheet
Kenya- Co-op Bank microfinance loan

Summary sheet

Release date
26 March 2003
Status
Reference
Signed | 25/11/2003
20020604
Project name
Promoter - financial intermediary
Kenya- Co-op Bank microfinance loan

Co-operative Bank of Kenya
Contact point: Peter Munyiri, General Manager

Proposed EIB finance (Approximate amount)
EUR 2 million
Location
Sector(s)
Description
Objectives

Provision of long-term loans, as part of a larger support from Co-op Bank, to well-performing Savings and Credit Co-operatives (SACCOs) with significant outreach in rural areas.

The EIB funding will help Co-op Bank extend long-term loans to SACCOs with commercial orientation and self-regulation. It is part of a wider support package provided by Co-op Bank to SACCOs, including professional financial guidance and management support under a form of franchise agreement.

Comments

Financial sector – Savings and credit co-operatives

Link to source
Summary sheet
Kenya- Co-op Bank microfinance loan
Other links
Data sheet
CO-OP BANK MICROFINANCE LOAN

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
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.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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