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Thursday, 12 April 2012

EIB to boost small and micro business in East Africa

According to recent reports by the European Investment Bank (EIB), small- and micro-businesses across East Africa will benefit from a new €50 million EAC Microfinance Facility which was launched this week.  The initiative is intended to improve access to long-term funding for micro- and small-enterprises through experienced local intermediaries.
The East African Community Microfinance Facility allows experienced banks and microfinance institutions engaging in microfinance to receive local currency funding to support their financing of local business. Partner banks can also benefit from dedicated training and technical assistance to improve the effectiveness of this financial support to the private sector.

Source: EIB