Sunday, May 1, 2011

Four local banks get Shs140 billion for SME lending

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Registered small business can now borrow money to finance long term projects after four commercial banks acquired a credit line from the European Investment Bank (EIB). DFCU, Housing Finance, Crane Bank, Centenary Bank, and Bank of Africa last week signed an agreement to get Shs140 billion under the private enterprise facility to boost their lending options to small businesses.

EIB vice president for Africa Plutarchos Sakellaris said the move was aimed at fostering a shared engagement

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