Equity Bank secures US$50m loan financing from IFC to support SMEs

KENYA – IFC, a member of the World Bank Group, has announced a US$50 million (KSh5.4 billion) loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges. The loan is part of IFC’s global US$8 billion fast-track COVID-19 facility, announced in March and designed to help businesses maintain operations and jobs during—and after— the COVID-19 crisis. The loan will support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer…

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