European Investment Bank has credited Kenya and East Africa businessmen with close to 10 billion credit to boost their business.
Through a pact signed yesterday, it will see the credit disbursed through Equity Bank and Housing Finance Corporation across the East African states.
“Kenya is increasingly becoming a hub for the region on many levels and we as a Bank must look at this from a very basic point of view,” said EIB Vice President Pim van Ballekom
He added,
“There is a young and growing population with enormous potential, which needs credit to support their momentum. The credit lines will not only benefit people in Kenya, but are meant for people in neighbouring countries as well.”
Equity bank will disburse 8.25 billion as follows, Sh 3.96 billion for Equity Tanzania, Sh 2.2 billion for Procredit DRC and Sh 2.09 billion available through Equity Uganda.
