EALGF - I & M Bank (DFC-2019-EALGFIMB)

Countries
  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
I &M Bank Limited (Kenya)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 14.29 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 27, 2020


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Project Description

This Project is expected to have a highly developmental impact by expanding the availability of capital to small- and mediumsized enterprises (SMEs) operating in the agribusiness sector in Kenya. According to the latest IFC Enterprise Survey for Kenya, only an estimated 23% of small enterprises, and 27% of medium-sized enterprises, have access to bank
finance. The IFC quantifies the credit gap for both formal and informal SMEs in Sub-Saharan Africa as between $140 billion and $170 billion. Through a grant from the
USDA, Global Communities will provide technical assistance to I&M Bank Kenya Limited as well as downstream agribusiness SMEs. This will increase the Bank’s capacity to target and serve agribusiness SMEs and improve their financial sustainability and operational performance. The Project supports Kenya’s Global Food Security Strategy Country Plan with Feed the Future’s Program from USAID, which calls for sustainably reducing hunger, malnutrition and poverty in the agricultural sector.

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure