{"id":457741,"date":"2018-02-02T13:20:27","date_gmt":"2018-02-02T13:20:27","guid":{"rendered":"https:\/\/www.financialafrik.com\/?p=457741"},"modified":"2018-02-02T13:20:27","modified_gmt":"2018-02-02T13:20:27","slug":"kenya-european-investment-bank-grants-line-of-credit-to-i-m-bank","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/02\/02\/kenya-european-investment-bank-grants-line-of-credit-to-i-m-bank\/","title":{"rendered":"Kenya: European Investment Bank grants line of credit to I &#038; M Bank"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The European Investment Bank (EIB) granted Wednesday 31 January, a loan of 40 million dollars to the Kenyan bank I &amp; M Bank in favor of start-up companies in the country.<\/p>\n<p>According to Robert Schofield, executive director of the European Bank in charge of financing companies outside Europe, with this financing, I &amp; M Bank will grant loans to startups who can finance 50% of the projects they undertake. &#8220;Eligible borrowers for this line of credit will get a maximum of 50% of the total cost of the project they undertake.&#8221;<\/p>\n<p>For I &amp; M Chief Executive Officer Kihara Maina, &#8220;the money will complement the bank&#8217;s ongoing lending activities for its corporate, institutional and commercial banking sectors. &#8220;I &amp; M Bank is anchoring its business model by being a growth partner for all our key stakeholders. We believe the European Investment Bank&#8217;s line of financing will help our SMEs, corporates and institutional clients accelerate the growth of their business and support their expansion efforts. &#8221;<\/p>\n<p>EU Ambassador to Kenya Stefano Dejak said Kenya has a strong and vibrant private sector that is a key driver of economic growth and employment. &#8220;The EU attaches great importance to dialogue and engagement with this sector,&#8221; he added.<\/p>\n<p>I &amp; M Bank is a private commercial bank headquartered in Kenya, with a growing regional presence currently extending to Mauritius, Tanzania and Rwanda. In Kenya, the bank&#8217;s network currently extends to 36 branches serviced by more than 900 staff.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The European Investment Bank (EIB) granted Wednesday 31 January, a loan of 40 million dollars to the Kenyan bank I &amp; M Bank in favor of start-up companies in the country. According to Robert Schofield, executive director of the European Bank in charge of financing companies outside Europe, with this financing, I &amp; M Bank<\/p>\n","protected":false},"author":527297,"featured_media":457730,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12000],"tags":[14057,14055,13515],"class_list":["post-457741","post","type-post","status-publish","format-aside","has-post-thumbnail","category-banks-insurance","tag-eib","tag-i-m-bank","tag-kenya-en","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kenya: European Investment Bank grants line of credit to I &amp; M Bank - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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