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I&M Bank gets Sh4 billion for SME lending

Kihara Maina MD I&M Bank of Kenya.

The European Investment Bank has given a Sh4.1 billion ($40 million) to I&M Bank to lend to Kenyan startups.

According to European bank's executive director in charge of business financing outside Europe, Robert Schofield, I&M Bank will advance the loans to startups that can afford to finance 50 per cent of the projects they are undertaking.

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