Kenya - Commercial Bank of Africa Limited

The present project consists of a financial package of US $ 90 million for Commercial Bank of Africa (CBA). This envelope consists of: (i) a US $ 50 million line of credit (LOC) with a 7-year maturity (including a 2-year grace period); and (ii) a US $ 40 million trade finance credit line (LOC-CF) with a 3.5-year term. The LOC will be used, among other things, to finance small and medium-sized enterprises (SMEs) and small sub-projects in the energy infrastructure sector; while the CFL-LDC will support CBA's trade finance activities in various sectors, including trade in petroleum products, crude steel, machinery, plant and equipment and agricultural products. The project is expected to have positive effects on inclusive growth in view of the available information on the positive impacts that have resulted from CBA's current portfolio and the new strategic directions towards increased support for the underdeveloped SME sector.