FRB is a universal bank which has developed several franchises: First National Bank for retail banking, Rand Merchant Bank for merchant banking and investment and Westbank for leasing. FRB is a longstanding partner of AFD Group and Proparco, since the agency opened in 1994, and it has been allocated several credit lines.
The project involves a new USD 30m senior credit line to provide long-term resources in USD to SMEs. It is part of a more extensive USD 90m credit line, alongside DEG, which will act as lead arranger, and OeEB (Austrian DFI). The loan structuring (maturity, margin) is exactly the same as for the previous line allocated to FRB in 2012.