IDA finances SAFER project to improve access to finance for MSMEs in Kenya

KENYA – The Supporting Access to Finance and Enterprise Recovery (SAFER) project, financed by the International Development Association (IDA) is set to improve access to finance to MSMEs after being severely impacted by the COVID-19 crisis. More than 250,000 micro, small, and medium enterprises (MSMEs) in Kenya will benefit from the program that will address market failures in access to…

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IFC and East Africa Bank unveils US$5m trade finance guarantee to support businesses in Djibouti

DJIBOUTI – The International Finance Corporation (IFC), a member of the World Bank Group, has announced a US$5 million trade finance guarantee facility to Djibouti- based East Africa Bank (EAB) to help local companies engage in cross-border trade. The support is a vital engine of economic growth that has been strained by the COVID-19 pandemic, IFC’s trade finance facility guarantee…

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Federal government of Nigeria secures US$700m from IDA for its Surwash programme

NIGERIA – The International Development Association (IDA), a subsidiary of the World Bank, has granted Nigeria a US$700 million loan for implementation of its Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (Surwash) Programme. The loan will finance access to water, sanitation and hygiene (WASH) for 6 million people, mainly in rural areas and small towns. The World Bank…

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