World Bank’s private sector affiliate, the International Finance Corporation (IFC), will concentrate its lending activities to the financial sector in East Africa, to target at least 200 small and medium businesses, a senior official has affirmed.
Jean-Philippe Prosper, IFC Senior Manager for Eastern Africa, said in Nairobi Tuesday that the IFC would set aside funds targeting women entrepreneurs in Eastern Africa, including private schools across the region.
The IFC, through its Small and Medium Enterprises (SME) Solutions Center, would advance loans for small businesses with a capital base of at least $44,776 (235.866 d. kr.) through local banks or financial intermediaries such K-Rep Bank in Kenya.
Prosper said the IFC also invested 130 million dollars (685 mio. d. kr.) in an infrastructure project in Uganda and was also active in infrastructure investments in Kenya and Rwanda.
The World Bank will conduct a six-week publicity campaign, dubbed ‘connecting with you’ to raise awareness about its funding activities in Kenya.
The IFC said it will fund at least 200 small funds by giving affordable sources of financing to help in improving their conditions of doing business.
We will continue to focus on infrastructure. Tourism is an important sector in the three sectors, tourism, the SMEs, and the infrastructure,’ Prosper said.
