{"id":11628,"date":"2020-07-22T19:15:32","date_gmt":"2020-07-22T19:15:32","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=11628"},"modified":"2020-07-22T19:15:32","modified_gmt":"2020-07-22T19:15:32","slug":"equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending","title":{"rendered":"Equity lands over Sh5B from International Finance Corporation for SMEs lending"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> IFC, a member of the World Bank Group has announced over Sh5 billion ($50 million) loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges.<\/p>\n<p>The loan, which will support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer goods sectors, is part of IFC\u2019s global $8 billion (Sh800 billion) fast-track COVID-19 facility, announced in March and designed to help businesses maintain operations and jobs during\u2014and after\u2014the COVID-19 crisis.\u201cThe loan will help Equity Bank extend much-needed support to our clients, particularly to SMEs in sectors hit hard by COVID-19.<\/p>\n<p>We have purposed to support and walk with them so that they can survive during this crisis, recover, and thrive after it. I call on customers looking to seize emerging opportunities in the health and medical sector to manufacture personal protective equipment (PPE) or support the logistics of the entire ecosystems and value chain to take advantage of the facility,\u201d said Dr. James Mwangi, Equity Group CEO.<\/p>\n<p>\u201cThe longstanding partnership with Equity Bank underscores our commitment to Kenya\u2019s financial sector and the wider economy, especially during these difficult economic times. Keeping businesses solvent and protecting jobs are essential parts of IFC\u2019s response to the unprecedented challenges of COVID-19,\u201d said Manuel Moses, IFC Country Manager for Kenya.<\/p>\n<p>The COVID-19 pandemic has disrupted trade and value chains in Kenya, across Africa, and around the world, affecting commodity prices, reducing foreign financing flows, and collapsing tourism revenues.Smaller businesses are the lifeblood of Kenya\u2019s economy, accounting for about 81 percent of employment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: IFC, a member of the World Bank Group has announced over Sh5 billion ($50 million) loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges. The loan, which will support hundreds of Kenyan businesses in the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":11625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1539,4326,3962],"class_list":["post-11628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-covid-19","tag-equity-group","tag-smes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Equity lands over Sh5B from International Finance Corporation for SMEs lending - kenya<\/title>\n<meta name=\"description\" content=\"IFC, a member of the World Bank Group has announced over Sh5 billion ($50 million) loan to Equity Bank Kenya to help it increase working capital and trade-\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equity lands over Sh5B from International Finance Corporation for SMEs lending\" \/>\n<meta property=\"og:description\" content=\"IFC, a member of the World Bank Group has announced over Sh5 billion ($50 million) loan to Equity Bank Kenya to help it increase working capital and trade-\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-22T19:15:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/equity_lands_over_sh5f18457beacee.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"573\" \/>\n\t<meta property=\"og:image:height\" content=\"325\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Equity lands over Sh5B from International Finance Corporation for SMEs lending\",\"datePublished\":\"2020-07-22T19:15:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending\"},\"wordCount\":286,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/equity_lands_over_sh5f18457beacee.jpg\",\"keywords\":[\"COVID-19\",\"Equity Group\",\"SMEs\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/equity-lands-over-sh5b-from-international-finance-corporation-for-smes-lending\",\"name\":\"Equity lands over Sh5B from International Finance Corporation for SMEs lending - 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