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African Development Bank and African Guarantee Fund Sign $110 Million Agreement With Tanzania’s CRDB Bank to Boost Access to Finance by Women’s SMEs

Source: African Business

The African Development Bank signed a $60 million financial package comprising $50 million subordinated debt to support CRDB Bank’s regional expansion efforts and a senior loan of $10 million to accelerate access to finance for small businesses managed and owned by women in Tanzania.

The facility is coupled with a $175,000 technical assistance grant from the African Development Bank’s Affirmative Finance Action for Women in Africa Initiative (AFAWA) with support from the Women Entrepreneurship Finance Initiative to strengthen CRDB’s capacity to support women entrepreneurs in Tanzania to become more bankable.