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By signing a partnership with the Tanzanian bank CRDB, Proparco is contributing to increasing its capacity to finance the country’s micro, small and medium-sized enterprises (MSMEs), with a focus on MSMEs run by women or affected by the Covid-19 crisis.
Client presentation

CRDB is a leading bank in Tanzania. It was set up in 1996 and has been listed on the Dar es Salaam Stock Exchange since 2009. Its main shareholders are the Danish fund DANIDA and Tanzania’s Public Service Social Security Fund. The bank has the most extensive network of branches in Tanzania and is the first bank in the country to be eligible for the Green Climate Fund.

Project description

The project involves supporting the bank’s development of its SME loans, via a USD 50m senior credit line and a EUR 18.5m EURIZ guarantee, as well as a technical assistance grant to assist the bank with its loans for women entrepreneurs. A EUR 8m Choose Africa Resilience guarantee will also support companies affected by the health crisis.

Project impact

The main expected impacts of the project are: 

  • Support for the economic development of Tanzania by financing CRDB’s corporate clients, mainly made up of SMEs and microenterprises, which are historically unserved or underserved by the country’s banking sector;
  • A contribution to formal employment in Tanzania, with some 4,800 jobs maintained;
  • Support for private initiatives led by women entrepreneurs and “green” projects (renewable energies, water and sanitation, energy efficiency, green buildings…) through the EURIZ guarantee;
  • Support for companies hard hit by the health crisis through the Choose Africa Resilience guarantee.
03/17/2022
Date of signature of the project
Tanzania
Location
Financing tool
44 626 918 Euros
Amount of funding
USD 50m loan
Financing details
financing program
CRDB BANK TANZANIE
Client
CES

The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union and the African, Caribbean and Pacific Group of States (ACP Group).


This information is given at the time of signature, without prejudice to any developments in the operation/project