Benzinga Contributor
September 19, 2011 3:21 PM
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will loan RWF 3 billion (USD 5 million) to the Rwandan subsidiary of Kenya Commercial Bank (KCB) Group, a publicly-traded financial services company, to expand its mortgage finance program and for lending to small and medium-sized enterprises (SMEs).
The local-currency loan has been structured in partnership with the National Bank of Rwanda, the country's central bank, in an effort to reduce foreign currency risk for KCB.
The loan is part of a USD 105 million package that IFC is providing to KCB Group.
As of December 31, 2010, KCB Group reported total assets equivalent to....
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