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, inter and intra faith endeavors, achievements and humanitarian works.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.