This loan project aims to strengthen Exim Bank’s funding base with long-term USD financing and finance to SMEs based in Tanzania.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
Exim was founded in 1997 by five local shareholders, making it Tanzania’s largest indigenous bank. In 2007, Exim started its regional expansion by setting up a subsidiary in Comoros, making steps towards its ambition of becoming an East African Bank. This was followed by Djibouti in 2011 and Uganda in 2016, where Exim acquired 58.6% of the shares of former Imperial Bank (Uganda) Limited, investing ~USD 7mln in the subsidiary.
Project contacts are not available at the time of disclosure.