Tanzania - Partial Credit Guarantee Facility to CRDB Bank


Project Summary

Approval Date 22 Jul 2008
Signature Date 05 Aug 2008
Sovereign / Non-Sovereign Non Sovereign
Sector Multi-Sector
DAC Sector Code 43010
Commitment U.A 1,128,756.6
Status Completion

Project Objectives

The objective of the project is to extend USD 10 million in Partial Credit Guarantee (PCGF) over a 10-year period. CRDB plans to expand its loans and advances from Tshs 599 billion in 2007 to Tshs 1.7 trillion in 2012 or a 3-fold increase over the next five years, which will come primarily from existing untapped retail business with SMEs and microfinance businesses. In November 2007, the USAID identified the need to enhance access to finance for SMEs and invited AfDB to participate in provision of a Partial Credit Guarantee Facility (PCGF) through the CRDB Bank. AfDB and USAID will provide USD8 million and USD2 million, respectively, which will represent 50% of the outstanding loans facility of CRDB Bank.. It will assist CRDB Bank in meeting the aforementioned operational targets and to enhance its business profile through the provision of the long-term financing required to increase production capacities in Tanzania. A stronger CRDB Bank will help to increase capital inflows, and support and create economic activities capable of generating employment and alleviating poverty

Participating Organization

Funding
African Development Bank
Funding
Fund for African Private Sector Assistance

Information

IATI identifier 46002-P-TZ-K00-010
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Tanzania, United Republic of