Kenya gets hefty EIB funding

The European Investment Bank is set to boost Kenya’s banking sector through a USD282 million loan. The funding, implemented as part of the Kenya Private Enterprise Finance facility, aims to strengthen the capacity of Kenya’s banks to provide loans to support small and medium-sized businesses in the tourism, education and manufacturing sectors. EIB regional representative Carmelo Cocuzza announced the loan during the signing of a partnership deal with FINA bank, one of the institutions slated to benefit from the deal. (Source: EIB offers loans to Kenyan banks/Kenya Broadcasting Corporation)

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