As stated by the EIB, the project consists in a risk-sharing facility, supported by a grant from the European Commission, to provide guarantees to Zambia Industrial Commercial Bank (ZICB) financing agri-food value chain investments in the country.
The aim is to enhance access to finance for private sector enterprises implementing agriculture value chain projects.
As stated on the company's LinkedIn profile, Zambia Industrial Commercial Bank Limited (ZICB) was incorporated on 31st August 2017 and opened to the public on 1st August 2018. The Bank’s mandate is to drive Zambia’s economic development with a focus on supporting the industrialisation and commercialisation of MSMEs and local corporate business enterprises.
The Bank is 100% locally owned with its main shareholders being the National Pension Scheme Authority (NAPSA), the Industrial Development Corporation Limited (IDC), and the Workers' Compensation Fund Control Board (WCFCB).
Financial Intermediary - Zambia Industrial Commercial Bank:
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