Project detail - I AND M BANK TANZANIA LIMITED

I AND M BANK TANZANIA LIMITED

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Who is our client

I&M Bank Tanzania is wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). I&M is a commercial bank offering a full range of corporate, SME and retail banking services.

Funding objective

FMO has provided a 5-year USD 15mln loan to strengthen I&M’s funding base with long-term USD financing.

Why we fund this project

I&M is a strong and well-reputed Tier 2 bank in Tanzania and a long-standing client of FMO. FMO is supporting I&M Bank to fund their SME and corporate customers, which are a strong engine in Tanzania’s economy.

Environmental and social rationale

Environmental & social risk Category FI-B. This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. As part of this facility, I&M will be required to apply the EDFI Exclusion List and national E&S laws and regulations. At the Group level I&M Bank has in place an environmental & social management system which includes an Environmental and Social Action Plan with the objective to enhance the bank’s environmental & social risk management capacity and its client engagement on environmental & social impacts.

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Date Total FMO financing
12/1/2015 USD 12.00 MLN
Website client
http://www.imbank.com/tz
Region
Africa
Country
Tanzania, United Republic of
Sector
Financial Institutions
Signing date
12/12/2018
Total FMO financing
USD 10.00 MLN
Fund
FMO
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