[DR Congo] Rawbank receives $ 15 million from African Development Bank to boost SMEs
31-12-2018 06:10:00 | by: Bob Koigi | hits: 3551 | Tags:

The African Development Bank will boost the private sector in the DRC by providing a $ 15 million credit line to Rawbank.

"The African Development Bank gives a strong signal with this line of credit that will boost the Congolese private sector, targeting in particular women entrepreneurs," said Rawbank CEO Thierry Taeymans.

This loan marks the Bank's first collaboration with Rawbank, and aims to support SMEs and support projects in key sectors of the Congolese economy and the creation of thousands of jobs. This funding will also help hundreds of Congolese entrepreneurs creating SMEs targeting women entrepreneurs in particular.

This breath of fresh air will also allow Rawbank to improve its long-term liquidity, diversify its funding base, strengthen its balance sheet and support the growth of its business portfolio.

Signing on behalf of Rawbank, Taeymans welcomed the confidence the African Development Bank has shown in its institution. And to add that this first operation will accelerate "our development at the service of our customers".

Cosignant, Donatien Kouassi, Acting Country Manager of the African Development Bank in the DRC, stressed the importance of this partnership with Rawbank, which he said will "stimulate our support for SMEs, and in turn, to intervene vigorously in the private sector. "

Rawbank has been named Best Bank in the Democratic Republic of Congo, for the fourth year in a row, by Global Finance, the prestigious New York-based US magazine specializing in financial reporting.

www.afdb.org