IFC and FMO Partner With I&M Bank Ltd. to Support Small and Medium-Sized Businesses in Kenya

To help smaller businesses across a range of sectors in Kenya access financing for working capital, expansion, and to weather the effects of COVID-19, IFC and FMO, the Dutch entrepreneurial development bank, this week announced a loan to I&M Bank Ltd. of $50 million.

With IFC contributing $30 million and FMO contributing $20 million, the loan will strengthen I&M Bank Ltd.'s regulatory capital position, allowing the bank to boost economic activity in Kenya by lending to small and medium-sized enterprises mainly in the trade, manufacturing and construction sectors.