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Zambia: supporting financial inclusion with AB Bank Zambia
Project
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Signature date
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Location
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Zambia
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Financing tool
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Financing amount (Euro)
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1000000
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Financing details
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ZMW 22,845,070 guarantee
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Customer
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AB BANK Zambia
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Type of customer
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Microfinance
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Country of headquarters
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Zambia
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Project number
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CZM1036
This information is given at the time of signature, without prejudice to any developments in the operation/project.
By allocating a Choose Africa Resilience guarantee to the microfinance institution AB Bank Zambia, Proparco is contributing to financial inclusion in the country.
Client presentation
AB Bank Zambia (ABZ) is a Zambian microfinance institution set up by Access Holding in 2011. It provides small loans to microentrepreneurs and SMEs via a network of seven branches.
Project description
The EUR 1m guarantee allocated to ABZ by Proparco will cover the liquidity requirements of microenterprises and small businesses in Zambia. This guarantee has been made possible by the resources provided to AFD Group by the French Government under the Choose Africa Resilience initiative, which aims to support MSMEs in Africa affected by the Covid-19 crisis.
Project impact
The guarantee allocated by Proparco will specifically support and assist clients with their growth dynamics and create jobs.