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Nairobi; The Netherlands Development Bank - FMO has signed a Kshs. 4 Billion (US$45.2 million) long-term debt with Chase Bank Kenya. This is in addition to a Kshs. 1.6B (US$18.4M) agreement signed with Microfinance Enhancement Facility SA, SICAV-SIF to support SME lending in Kenya. The FMA deal was signed 29th September 2014.
The debt agreements between Chase Bank, FMO and MEF are part of the Bank’s short to long-term plans to strengthen financial support in Kenya by providing affordable long term funding to the SME sector.
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