Banking group DTB secures US$50m from IFC for onward lending to SMEs

KENYA – Diamond Trust Bank Kenya (DTB), a banking group, has secured KSh5.41 billion (US$50 million) from the World Bank Group’s private sector arm, the International Finance Corporation (IFC)  for onward lending to small and medium-sized businesses (SMEs) which have been hardest hit by economic woes as a result of the Covid-19 pandemic. IFC loan will enable Kenya’s eighth largest lender by assets to continue giving credit to small traders and companies, largely perceived to be risky by lenders because of inadequate collateral for loans. The cash is part of…

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