Project detail - NATIONAL MICROFINANCE BANK PLC

NATIONAL MICROFINANCE BANK PLC

Status: Completed investment
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Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at disclosure@fmo.nl

Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

National Microfinance Bank Plc. (NMB) is one of the largest commercial banks in Tanzania, providing banking services to individuals, SMEs and corporates. With 170 branches the bank is located in more than 95% of Tanzania's districts. This broad branch network enables NMB to provide access to finance to citizens in all areas of Tanzania, including the most remote.

What is our funding objective?

FMO provides long-term funding in order to indirectly support private sector development (via USD earning companies) and to contribute to FMO's strategy of stimulating economic growth. The sub-borrowers are mainly exporters, an important segment to finance in a country with a large trade deficit.

Why do we fund this investment?

Long-term USD funding remains scarce in Tanzania. Beyond that, FMO's funding will support the further development of the bank’s corporate and SME portfolio, which are considered an important driving force of the Tanzanian economy.

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Region
Africa
Country
Tanzania, United Republic of
Sector
Financial Institutions
Effective date
8/21/2013
End date
8/29/2019
Total FMO financing
USD 32.50 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B