PROJECT

Projects

Summary of Investment Information

Project Number

43948

Company Name

THE CO-OPERATIVE BANK OF KENYA LIMITED

Date SPI Disclosed

Jan 18, 2021

Country

Kenya

Region

Africa

Projected Board Date

Nov 23, 2020

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 9, 2021

Department

CF3S3 - Regional Industry - FIG ME & Africa/FIG Africa Porf.Est

Industry

Financial Markets

Previous Events

Approved : Nov 23, 2020
Signed : Dec 24, 2020
Invested : Dec 30, 2020

Sector

Commercial Banking - SME Finance

Project Description

The proposed Project consists of a 7-year (with 5-year grace) subordinated loan of up to US$75 million to the Co-operative Bank of Kenya Limited (Co-op or the Bank). IFC’s loan will enhance the Bank’s regulatory capital and support its lending program to expand access to finance for MSMEs in Kenya, which are expected to be highly affected by the COVIC-19 pandemic (the Project).                                                    

Associated Advisory Engagement

i) Treasury and Balance Sheet management advisory

ii) Credit Risk Management Diagnostic Assessment

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation