International Finance Corp. agrees $12.5 million risk-sharing facility that will support Equity Group
Holdings unit in Democratic Republic of Congo to provide more credit to small and medium-sized enterprises, lenders say in a joint statement.
* Facility will support EquityBCDC’s plan to increase SME loans to $631 million by 2026 from $250 million in 2021 * Facility will allow for 1,700 more loans and provide 50% loss coverage to SME loan portfolio originated by EquityBCDC * Partnership is part of the Small Loan Guarantee Program of the
IFC, a member of the World Bank Group * IFC in November provided a $50 million loan in Congolese
francs to EquityBCDC to support micro, small, and medium-sized businesses
* NOTE: Feb. 6, IFC Agrees $35m Loan for Rawbank Small-Business Plan in Congo
* NOTE: Dec. 21, Equity Bank Sees Profit Doubling in Congo as Accounts Surge
LPC/BN
