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Supporting high-impact SMEs in Tanzania
Project
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Signature date
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Location
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Tanzania
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Financing tool
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Financing amount (Euro)
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48477797
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Financing details
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USD 50m loan
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Customer
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National Microfinance Bank PLC
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Type of customer
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Microfinance
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Country of headquarters
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Tanzania
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Project number
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PTZ1052
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Environmental and social ranking
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IF-A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco, with FMO, is helping the Tanzanian bank NMB identify and finance green projects and high-impact SMEs, including SMEs owned by women.
Client presentation
NMB Bank Plc. (NMB) is one of the largest commercial banks in Tanzania, offering banking services to individuals, MSMEs, agribusinesses and companies. NMB has an extensive network of officers, branches and ATMs across Tanzania and gives the end clients access to financing nationwide.
Project description
Proparco, alongside FMO, is providing long-term financing for MSMEs, with a focus on MSMEs owned by women and agricultural MSMEs, which are considered as a major driver of the Tanzanian economy. Through this facility, NMB will identify and finance eligible green loans in its MSME and corporate portfolio. The project thereby contributes to the development of the private sector in Tanzania.
Project impact
The project will contribute to supporting the bank’s strategic objectives of increasing its portfolio of agricultural projects and SMEs. It will also support 465 jobs, with 48% held by women, meaning the project may qualify for the 2X Challenge, a global initiative to support women’s economic empowerment.