Kenya Commercial Bank III

completed

The proposed engagement with Kenya Commercial Bank Limited (“KCB” or “the Group”) is aligned to IFC’s strategy for the East African financial sector. The Project is comprised of a $150 million senior loan facility to KCB, one of largest and systemically important banks in Kenya and the East Africa region. The Project is expected to provide the Bank with significant long-term financing to support its strategic objectives. The funding will be used to support the Group’s regional expansion, increase access to finance for crucial sectors of the economy such as SME’s, agribusiness, microfinance and facilitate increased mortgage lending especially for affordable housing. The use of proceeds will also reach the Bank’s subsidiaries in the East Africa region and hence increase IFC reach in IDA countries. In addition, the project will increase access to finance in Kenya with an emphasis on expanding opportunities for the bottom of the pyramid (“BOP”) by leveraging KCB’s strong brand positioning and distribution capacity.