FMO, a Dutch
Development Bank, has provided $15 million Subordinated
Debt facility for First National Bank Zambia (FNBZ) to finance
Small and Medium Enterprises (SME) in the country.
In a statement, FMO Chief
Investment Officer, Linda Broekhuizen, said the tenure of
the funding facility will be for the period of ten years.
Ms Broekhuizen said the tier 2 facility will strengthen FNBZ’s
balance sheet by enabling future growth of its SMEs’
portfolio and Agri Finance Business.
She reaffirmed her banks commitment to supporting job
creation strategy in Zambia through supporting the SMEs.
And FNBZ Chief Executive Officer, Leonard Haynes, said the
support from FMO will go a long way in providing the
necessary credit to its Zambian clients.
Mr Haynes added that the move will also help SMEs in the
country to grow and in turn create more sustainable jobs in
the local economy.
No comments:
Post a Comment