The East African Development Bank has secured a Sh2.16 billion loan from the Opec Fund for International Development (OFID) for onward lending to small and medium sized enterprises (SMEs) in the region.
While announcing the long-term funding, whose interest rate was not disclosed, the Opec Fund said in a statement that the facility would uplift EADB's lending to the small enterprises in its key markets of Kenya, Uganda, Tanzania and Rwanda.
