CDC Group, the UK’s development finance institution and impact investor, announced a $75m debt commitment to Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc and member of the Standard Bank Group.
CDC said in a statement that the long-term funding would enable the bank to continue lending to businesses in subsectors of the economy important for domestic consumption and exports including food, manufacturing, telecommunications and construction.
The debt commitment will also give Stanbic IBTC access to long-term dollar funding, which is difficult to raise in the commercial market even under normal conditions, according to the statement…
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News Archive from before July 2018