European Investment Bank Lends Ecobank Group $113 Million for SMEs in Africa, With Emphases on Women, Adjusting to COVID-19
The Togo-based Ecobank Group recently received a 9-year credit facility of EUR 100 million (USD 113 million) from the EU’s European Investment Bank (EIB). The purpose is to help develop the small and medium-sized enterprise (SME) sector, with a particular emphasis on the businesses that have been “most impacted by the COVID-19 pandemic.” To support the loan, the EIB-funded African Women Rising Initiative will provide technical assistance including “training and capacity building for lending to women entrepreneurs.”
Photo courtesy of Christina @ wocintechchat.com.
Source: MicroCapital (link opens in a new window)