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.

Check Also

Think Like an Entrepreneur: Free summer academy helps high schoolers learn to turn their ideas into businesses

Applications are being accepted through Monday, June 3, for Rowan University’s third annual Think Like an …

Leave a Reply

Your email address will not be published. Required fields are marked *

Social Media Auto Publish Powered By : XYZScripts.com