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KENYA : EIB inks €20 million finance agreement with two Kenyan banks
Publish Date : 06-Feb-2012
The European Investment Bank (EIB) will be signing a finance agreement worth €20 million with two Kenyan banks namely ABC Bank and Consolidated Bank.
With this finance agreement, Kenyan companies will be benefited from improved funding essential for growth and investment.
The EIB’s Private Enterprise Finance Facility II will support African Banking Corporation and Consolidated Bank of Kenya to offer long-term funding in Kenyan shillings, US dollars and euros to help lending to local businesses seeking to expand or invest in new activities.
EIB vice president Plutarchos Sakellaris said, “Ensuring long-term funding is available for small companies in Kenya will promote sustainable economic growth and job creation in Kenya. The EIB looks forward to working closely with local Kenyan banks to help entrepreneurs to expand their business activities across the country.”
