According to the bank website, this project provides access to finance for MSMEs in DRC to support economic activity and resilience in the aftermath of the COVID-19 crisis. Beyond the project outcome, IFC anticipates that the Project will support resilience amongst BOP finance providers, catalyzing investments in the sector by demonstrating the viability of local currency financing to BoP providers and crowding in other sources of international and domestic finance in support of these lenders.
EBCDC is the resulting entity of the merger between Equity Bank Congo and Banque Commerciale Du Congo, which was completed in December 2020. The Bank is the second largest bank in DRC, with a balance sheet of US$2.9 billion. The Bank is the Congolese subsidiary of Equity Group Holding Limited (EGHL) and has 100% of its operations in DRC. The Bank is majority owned (75.5%) by EGHL, while the government of DRC holds 15%.
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