Original disclosure @ IFC website
Updated in EWS Feb 8, 2023
Disclosed by Bank Feb 7, 2023
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According to bank provided information, the proposed project is a 5-year senior secured loan, with a 2-year grace period, of up to US$20 million in ZMW equivalent (approx. ZMW340 million) to Bayport Financial Services Limited (“Bayport” or “the Company”), a leading NBFI in Zambia. The Project will be processed under IFC’s Base of the Pyramid (“BOP”) Program to support the Company in increasing access to finance and scaling up lending operations to un(der)served individuals in Zambia for productive uses (the “Project”) and will be supported by the IDA-Private Sector (“PSW”) Blended Finance Facility (“BFF”) and the IDA-PSW Local Currency Facility (“LCF”).
The total Project cost is up to US$20 million in ZMW equivalent (approx. ZMW340 million), on IFC’s own account, in the form of a 5-year (2-year grace period) senior secured loan.
Bayport Financial Services Zambia Limited
Deputy Chief Executive Officer
+260 211 257 433
Plot 68 Independence Avenue, Lusaka, Zambia
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