SA MSME Facility

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    The proposed investment consists of senior unsecured loans of up to US$160 million in the aggregate for the Banks, with each of loan being for a tenor of two years and the option to rollover for an additional two years for a maximum tenor of four years. IFC proposes to make an A loan to each of (i) City Bank Plc, for an amount up to US$50 million; (ii) Prime Bank Plc, for an amount up to US$40 million; (iii) Eastern Bank Plc, for an amount up to US$20 million; and Bank Asia Plc, for an amount up to US$50 million.  The aggregate amount of the A loans will not exceed US$160 million. The proposed IFC investment will support working capital and long-term financing needs of MSMEs, including women-owned SMEs.  The projects will be supported by a pooled first loss guarantee of up to US$40 million provided by International Development Agency IDA Private Sector Window Blended Finance Facility (IDA-PSW BFF).