Project detail - EXIM BANK (TANZANIA) LIMITED

EXIM BANK (TANZANIA) LIMITED

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Who is our client

Exim was founded in 1997 by five local shareholders, making it Tanzania’s largest indigenous bank. In 2007, Exim started its regional expansion by setting up a subsidiary in Comoros, making steps towards its ambition of becoming an East African Bank. This was followed by Djibouti in 2011 and Uganda in 2016, where Exim acquired 58.6% of the shares of former Imperial Bank (Uganda) Limited, investing ~USD 7mln in the subsidiary.

Funding objective

FMO is providing a 5-year USD 35 mln loan to strengthen Exim’s funding base with long-term USD financing and finance to SMEs.

Why we fund this project

Exim Bank is a strong and well-reputed Tier 1 bank in Tanzania and existing client of FMO. FMO is supporting Exim as part of our strategy to grow and deepen customer relationships. Through this facility, FMO will support job creation, in many sectors in Tanzania

Environmental and social rationale

This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. The trade finance activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of this facility, Exim Bank will be required to apply the EDFI Exclusion List and national E&S laws and regulations.

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Date Total FMO financing
6/22/2018 USD 10.00 MLN
Website client
http://www.eximbank-tz.com
Region
Africa
Country
Tanzania, United Republic of
Sector
Financial Institutions
Signing date
9/27/2017
Total FMO financing
USD 70.00 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