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    Signature(s)

    Amount
    € 20,000,000
    Countries
    Sector(s)
    Kenya : € 20,000,000
    Credit lines : € 20,000,000
    Signature date(s)
    7/12/2007 : € 20,000,000
    Link to source

    Summary sheet

    Release date
    5 December 2006
    Status
    Reference
    Signed | 07/12/2007
    20050328
    Project name
    Promoter - financial intermediary
    Private Enterprise Finance Facility
    Barclays Bank of Kenya Ltd., East African Development Bank, FINA Bank Ltd.
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Up to EUR 20 million.
    Not applicable.
    Location
    Sector(s)
    Description
    Objectives

    Credit line providing long-term funds in Shillings and foreign currencies to selected intermediary banks to finance small and medium sized private investment projects.

    The purpose is to support investment projects for the expansion, diversification, modernisation or start-up of enterprises, through financing loans and leasing transactions with a maturity matching the economic lifetime of assets. The credit line addresses the lack of long-term resources in the Kenyan financial markets.

    Environmental aspects
    Procurement

    The intermediaries will assess environmental risks and mitigating measures as part of their regular project appraisal and will ensure compliance of projects to be financed with Kenyan environmental standards controlled by the competent authority (NEMA).

    Assets to be financed will be procured on a competitive basis taking into account relevant market practice as well as the nature and size of the goods considered.

    Comments

    Agro-industry, fishing, mining and quarrying, food processing, manufacturing, tourism or services related to these sectors, or healthcare and education

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

    General enquiries and comments

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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