The International Finance Corporation (IFC) is set to loan Kenya Commercial Bank (KCB) Kenya Sh19.4 billion ($150 million) for onward lending to small enterprises and to enhance its capital base, new disclosures by the World Bank affiliate show.
The IFC said that it will lend $100 million directly from its account to the Kenyan bank, with the other $50 million coming from parallel lenders to be mobilised by the institution. Approval of the lending is expected to be considered in an IFC board meeting on September 4.
