EIB financing for East Africa
Thursday 12 April 2012
The European Investment bank (EIB) launched, on 11 April, a new East African Community Microfinance Facility that will provide funding for micro and small enterprises in East Africa. In addition to encouraging job creation, the initiative will facilitate access to long-term funding for micro and small businesses through experienced local intermediaries. Faulu Kenya DTM and Co-Operative Bank Kenya are the first regional partners to have joined the €50 million programme. The East African Community Microfinance Facility is the first of three regional microfinance programmes that the EIB intends to launch in sub-Saharan Africa over the next three years.