IFC, CRDB Bank Partner to Support Smaller Businesses, Job Creation in Burundi

IFC and CRDB Bank Burundi S.A. have partnered to expand access to finance to smaller businesses, especially micro and small enterprises in the agribusiness sector, supporting economic growth and job creation in the country.

Under the partnership, IFC has loaned $5 million to CRDB Bank Burundi S.A. for on-lending to smaller businesses, many of which struggle to access financing for growth, especially in the wake of the COVID-19 pandemic. The World Bank estimates the small and medium enterprise (SME) finance gap in Burundi stands at roughly $491 million.