Home / Funding / IFC gives I&M’s Mauritius bank Sh3.75 billion loan

IFC gives I&M’s Mauritius bank Sh3.75 billion loan

Mauritius-based Bank One, in which Kenyan banking group I&M Holdings  has a 50 percent stake, has received a $37.5 million (Sh3.75 billion) loan from International Finance Corporation (IFC) to increase lending to small businesses.

The debt is classified as a senior loan, meaning it ranks higher than other Bank One’s obligations with regards to claims on the bank’s assets.

“The IFC loan will strengthen the bank’s long-term funding position and support the expansion of its lending operations to SMEs,” the IFC said in its investment disclosures.

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