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press release
Washington — IFC, a member of the World Bank Group, today announced that it will provide a $ 15 million loan to Rawbank to support lending to small and medium businesses and women entrepreneurs in the Democratic Republic of Congo.

The investment was arranged through Global SME Finance Facility will help Rawbank offer a wider range of services to Congolese entrepreneurs. The Global SME Finance Facility supports high-impact projects with higher risk profiles, such as in conflict-affected areas, women-owned businesses, and those engaged in sustainable-energy and climate-change activities.

The facility was established in 2012 following a call from the G-20 members to close the trillion dollar finance gap faced by SMEs in developing countries. TheUK government's Department for International Development is its anchor donor.

Thierry Taeymans, CEO of Rawbnk said, "Today we are expanding our strategic partnership with IFC. In addition to financing, IFC brings global and technical experience that will strengthen our leading position in DRC's financial system, and enable us to reach more small and medium enterprises, that are the backbone of the emerging economy in DRC. IFC's partnership is a recognition of the quality of management and services provided by our bank."

Oumar Seydi, IFC Director for East and Southern Africa said "IFC has found that small and medium enterprises can be a main catalyst for an economy of a fragile country, making it stronger and more resilient. As the DRC recovers from decades of conflict, increasing access to finance for entrepreneurs is critical to rebuild the private sector".

World Bank studies show that the DRC has less than a million formal bank accounts for a population of 70 million, which translates into banking penetration rate of less than two percent.

Starting operations as a small, family-owned bank in 2002, Rawbank has since expanded to become the largest bank in DRC in terms of total assets and deposits. The bank has 36 branches across the country offering corporate, retail, and private banking services

Rawbank will use IFC's financing in part to expand its reach to women. Women in the DRC have more difficulty gaining access to finance than men. With the support of IFC Advisory Services, Rawbank recently introduced a 'Lady's First' banking project, offering specialized services to women.

The project has already loaned over $3 million to Congolese women. With the new loan agreement, IFC will continue to offer advisory services to Rawbank on targeting women customers and risk management.

IFC's strategy in the DRC involves working closely with the private sector to support entrepreneurs, promote environmental and social best practices and build financial markets.

SOURCE International Finance Corporation (IFC)
 

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Mutu ya Chuma.
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43,873 Posts
Someone else has to do the job....while the so called modern regime is shipping coutry's money abroad instead of investingin it people.
 

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Mutu ya Chuma.
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43,873 Posts
We are a western protectorate more or less
Lol, im sure everyone knows that. by now


However; It's a sad reality that the leadership (and the ulytra supporters), come up with the notion that some how we have to accept the leadership chronic incompetence. lol

We're not the only country under impresriolist protectorate. but others make progress. we're regressing instead.

The West doesn't impose the chronically incompetents to ship money aborads, they don't say don't build schools, or toleratecorruption, rapists, mass murders etc


The likes of Kimbuta, Paluku, Kyungu, Chisambo etc are hated by their entities because of them being mothers of all incompetents, but the Chef de l'Etat has been keeping them around by force.



anyways. Countries such as South Korea, Taiwan, Japan, Germany, Ghana, Senegal, Gabon, Kenya, Ethiopia, Morocco, Zambia, hell even Uganda and Rwanda are all Western protectorates...but they are not as incompatent as in our Arena.
 
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