Release date: 8 February 2013
Promoter – Financial Intermediary
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.Location
Description
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.
Objectives
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.
Comments
Eligible sectors include production, services, trade and agro-industry. Household needs and consumer loans (including salary loans) are not eligible.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 100 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate. Intermediaries to ensure compliance with Client Protection Principles.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 8/02/2013
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).