|Approval Date||18 Nov 2016|
|Signature Date||28 Mar 2018|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present project "Diamond Trust Bank Kenya Limited" (DTB)is a multi-sector preferred line of credit granted to this Bank. It's for a Financial Package comprising, a senior LoC of up to USD 50 million with an 8-year maturity (including a 2-year grace period) and a Sub-debt of up to USD 25 million, to DTB 8-year maturity (including a 5-year grace period). The project aims to contribute towards reducing financing constraints faced by SMEs in Kenya, promoting private sector development and broad-based economic growth through significant job creation, increased productivity as well as enhance household incomes. Notably the Financial Package should also contribute towards positive gender and social effects and inclusive growth. The LOC should contribute to the financing of DTB’s pipeline of SMEs and local corporates which are growing due to strong domestic and regional demand. DTB is targeting SMEs in priority sectors, including infrastructure, agriculture, agribusiness, transportation and manufacturing.
The objective of the project is to support Kenya's SMEs by providing long-term financing to Diamond Trust Bank (DTB).
The line of credit granted to Diamond Trust Bank Kenya Limited ("DTB") is expected to indirectly benefit small and medium-sized enterprises ("SMEs") and large corporate customers from the transformation sectors of the Kenyan economy.
African Development Bank
|Last Update||25 Jul 2019|