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Proparco’s loan aims to support CRDB’s ambitious strategy to increase its loans for climate action and women entrepreneurs. The financing will also support its subsidiary in Burundi.
Client presentation

CRDB is one of the largest financial institutions in Tanzania, with total assets of USD 4.8 bn and 4.3 million clients. It also operates in Burundi and recently started operations in DRC. CRDB has major ambitions for regional expansion and plans to open new branches, including in Zambia, Malawi and Uganda. It is also a leader in financing high-impact sectors, with a market share of more than 40% for agricultural finance in Tanzania, and strong ambitions for “green asset finance” following its accreditation to the Green Climate Fund (GCF).

Project description

The objective of the credit facility (USD 50m from Proparco, with an additional USD 75m loan from FMO) is to support CRDB Bank’s strategy to increase its loans in high-impact sectors (climate, agriculture, MSMEs and companies run by women), and at the same time indirectly finance its wholly-owned subsidiary in Burundi, as USD 20m will be onlent to it.

This second loan to CRDB in less than two years illustrates the strengthening of the partnership between Proparco and this major institution in Tanzania and East Africa.

Project impact

The expected impacts of this project, which is part of the Choose Africa initiative, are as follows: 

  • More than 30,000 direct and indirect jobs supported
  • 1,422 SMEs supported in Tanzania

The project contributes to SDG 8 “Decent work and economic growth”.

12/18/2023
Date of signature of the project
Climate co-benefit project
Tanzania
Location
Financing tool
45 183 444 Euros
Amount of funding
USD 50m loan
Financing details
CRDB BANK TANZANIE
Client
Head office country
PTZ1056
Project number
CES