Release date: 5 December 2006
Promoter – Financial Intermediary
Barclays Bank of Kenya Ltd., East African Development Bank, FINA Bank Ltd.Location
Description
Credit line providing long-term funds in Shillings and foreign currencies to selected intermediary banks to finance small and medium sized private investment projects.
Objectives
The purpose is to support investment projects for the expansion, diversification, modernisation or start-up of enterprises, through financing loans and leasing transactions with a maturity matching the economic lifetime of assets. The credit line addresses the lack of long-term resources in the Kenyan financial markets.
Comments
Agro-industry, fishing, mining and quarrying, food processing, manufacturing, tourism or services related to these sectors, or healthcare and education
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 20 million.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
The intermediaries will assess environmental risks and mitigating measures as part of their regular project appraisal and will ensure compliance of projects to be financed with Kenyan environmental standards controlled by the competent authority (NEMA).
Procurement
Assets to be financed will be procured on a competitive basis taking into account relevant market practice as well as the nature and size of the goods considered.
Status
Signed - 7/12/2007
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).