DTB receives Sh2.7b to support SME financing

Nairobi; Kenya: Diamond Trust Bank has signed up for a $30 million (Sh2.7b) senior loan facility from French Development Finance Institution, PROPARCO for seven years.

The loan from the institution, dedicated to private sector financing, will be used by DTB to fund and scale up its small and medium enterprise loan portfolio.

This is the first time DTB has received funding from PROPARCO. DTB Group Managing Director Nasim Devji said through the credit line, the bank would continue to expand its SME offering and customer base. PROPARCO Regional Head for East Africa Guedi Ainache said the institution is proud to support DTB in providing committed support to SME financing in the region. SMEs are often hampered by insufficient access to financing.