Equity Bank Kenya #ticker:EQTY has secured $50 million (Sh5.48 billion) from the Dutch Development Bank (FMO) for onward lending to small and medium-sized firms hit by the Covid-19 pandemic.
While announcing the long-term funding, whose interest rate was not disclosed, FMO said the facility would uplift Equity Bank’s lending to the perceived risky small enterprises, who have been hard hit by the economic effects of the pandemic – lowering their ability to save and tap loans.
