$110M financial package to support women-owned SMEs in Tanzania

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The African Development Bank signed a $60 million financial package comprising $50 million subordinated debt to support CRDB Bank’s regional expansion efforts and a senior loan of $10 million to accelerate access to finance for small businesses managed and owned by women in Tanzania.
The facility is coupled with a $175,000 technical assistance grant from the African Development Bank’s Affirmative Finance Action for Women in Africa Initiative (AFAWA) with support from the Women Entrepreneurship Finance Initiative to strengthen CRDB’s capacity to support women entrepreneurs in Tanzania to become more bankable.
Similarly, the African Guarantee Fund has signed a guarantee line to CRDB Bank worth $50 million. The line includes the AFAWA Guarantee for Growth component to minimize risk in investing in women-led businesses and further support their growth.

Nsekela said the agreement with the Bank and the African Guarantee Fund will support CRDB’s commitment to assisting women-owned SMEs in building resilience and closing the working capital gap. “The $10 million credit line and $50 million guarantee will strengthen our ability to support many women-owned businesses through our Women Access to Finance Initiative, which is run by CRDB Malkia.”

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