Daily Nation: Sh2bn from IFC to boost Diamond Trust Bank’s lending

Daily Nation: Sh2bn from IFC to boost bank's lendingInternational Finance Corporation, the private sector lending arm of the World Bank, has signed a $26 million (about Sh2 billion) financing package with Diamond Trust Bank Group.

The bank on Wednesday said Sh1.6 billion would go DTB Kenya to improve its capacity to provide long-term lending, especially to small and medium enterprises.

In separate agreements, DTB Tanzania and DTB Uganda will get Sh240 million ($3 million) trade finance guarantee each to increase the trade finance instruments it issues on behalf of SMEs that import goods to East Africa.

“This is will leverage our ability to provide long-term finance as well as increase our trade finance activities, helping our local SMEs grow and compete in the international marketplace,” said ms Nasim Devji, the DTB Group CEO.

via Daily Nation: – Business News |Sh2bn from IFC to boost bank’s lending.

Author: ismailimail

Independent, civil society media featuring Ismaili Muslim community, its achievements and humanitarian works.

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