Standard Bank MCF

completed

 This project is now closed.    This project is Multi Country Facility (“MCF”) of up to US$75 million to foster a multi-country partnership between Standard Bank Group Limited (“SBG” or the “Group”) and IFC.  IFC’s facility would consist of subordinated / Tier 2 loans (IFC C loans) and would finance SBG’s majority-owned subsidiaries (“SBG Subsidiaries”) in DRC, Ghana, Kenya, Malawi, Mauritius, Mozambique, Tanzania, Uganda and Zambia.  The financing would be subject to requisite regulatory approvals.    The project offers a unique opportunity to foster a strong partnership between one of the largest African banking groups and IFC.  By providing the proposed loans to the local SBG Subsidiaries, IFC will help expand the Group’s operations in the region, enhancing SBG’s competitive position and bringing best practices and better access to high quality banking services and products to the respective markets.   Board Approved IFC Investment – Update as of February 2018   Sub-Project Investment Date Board Approved IFC Investment Sub-Project Status Stanbic Ghana (25181) 29 January 2007 $13 million Closed Stanbic Tanzania (25182) 27 December 2006 $3 million Closed Stanbic Kenya (25183) 30 June 2009 $10 million Closed Stanbic Zambia (25184) 20 December 2006 $11 million Closed Stanbic DRC (25450) 6 March 2009 $3 million Closed Standard Bank Mauritius (25451) 14 November 2008 $20 million Closed   As of February 2018, IFC had not invested in any of the following SBG subsidiaries: Mozambique, Malawi, Uganda and the original Project is now closed.