Kenya- Co-op Bank microfinance loan

Promoter – Financial Intermediary

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

Location

• Kenya

Description

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.

Objectives

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

Sector(s)

• Services

Proposed EIB finance (Approximate amount)

EUR 2 million

Status

Signed - 25/11/2003