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    Reference: 20220594
    Release date: 4 January 2023

    Promoter – Financial Intermediary

    NMB BANK PLC

    Location

    Description

    The project consists of a loan to NMB Bank Plc to support investments and working capital of small and medium sized enterprises (SMEs), including Midcaps.

    Additionality and Impact

    This operation will provide financing to NMB for on-lending to eligible private sector business, mostly SMEs but also Midcaps, with a focus on gender and blue economy sectors. This financing will contribute to improving access to credit to mostly SMEs, and especially in the two thematic sectors which suffer from constraint access to longer term financing. The Project will thus address the market failures of imperfect/asymmetric information that SMEs are confronted with when applying for finance, as well as environmental and climate externalities associated to the blue economy, for instance pollution reduction and protection of maritime life. Furthermore, the EIB support will address the issue of gender gaps in finance SMEs, support woman inclusion and their position in supply chains, including blue economy.


    The project responds to a number of specialized national policies and planning frameworks focused on gender and blue economy, which are at the heart of the development and political agenda in Tanzania. The project is under the auspices of the EU external action, the Neighbourhood Development and International Cooperation Instrument (NDICI) and its Investment Framework that among others promotes the support to ACP private sector (IW4). Furthermore, the operation is aligned with the country's national development vision for 2025 and its implementation plan, as well as the EU Multiannual Indicative Program for the period 2021-2027. It will also contribute to several Sustainable Development Goals.


    The operation will benefit from EIB's gender and blue economy technical expertise and financial structuring and potentially from EU financial support including technical assistance which will further address certain constraints limiting access to finance by SMEs operating in these underserved segments. 

    Objectives

    The aim is to enhance access to finance for SMEs, Midcaps and co-operatives across various eligible sectors, with a particular focus on the blue economy and businesses managed or owned by women, thus also promoting gender equality and women's economic empowerment.

    Sector(s)

    Under Global Europe NDICI guarantee

    Under EFSD+ Guarantee

    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

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

    Procurement

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

    Status

    Signed - 23/02/2023

    Milestone
    Under appraisal
    Approved
    Signed
    29 November 2022
    23 February 2023

    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).

    Related tags

    Tanzania Credit lines