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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
Link to source
Data sheet
EAC MICROFINANCE GLOBAL AUTHORISATION
Other links
Summary sheet
EAC MICROFINANCE GLOBAL AUTHORISATION
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.

Link to source
Summary sheet
EAC MICROFINANCE GLOBAL AUTHORISATION
Other links
Data sheet
EAC MICROFINANCE GLOBAL AUTHORISATION
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
Data sheet
EAC MICROFINANCE GLOBAL AUTHORISATION
Summary sheet
EAC MICROFINANCE GLOBAL AUTHORISATION

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

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.
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.

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