(Ecofin Agency) - Rawbank, the first trading bank in DR Congo with 24% market shares and nearly 300,000 customers, will secure a $15 million loan from the African Development Bank (AfDB), an official statement reveals.
A part of the resource obtained under this credit line will be used to finance the medium and long-term capital needs of about fifteen SMEs active in the industry, infrastructures, construction, hotel and trade sectors.
This loan will also allow Rawbank “to improve long-term liquidity, diversify funding base, strengthen the balance sheet and support the growth of its business portfolio,” AfDB’s statement indicated. The loan will be paid after 7 years. Apart from the loan, the Congolese bank has also been granted a technical assistance subsidy to train and develop the capacity of women entrepreneurs in the country.