Kenya - Diamond Trust Bank Kenya Limited


Project Summary

Approval Date 18 Nov 2016
Signature Date 28 Mar 2018
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 54,810,938.8
Status Implementation

Project General Description

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.

Project Objectives

The objective of the project is to support Kenya's SMEs by providing long-term financing to Diamond Trust Bank (DTB).

Beneficiaries

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.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-KE-HAB-022
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Kenya