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Sidian Bank Unveils KSh1.7 Billion for SME Lending

Eunniah MbabazibyEunniah Mbabazi
January 21, 2022
in Banking, Kenyan News
Reading Time: 1 min read
Sidian Bank Unveils KSh1.7 Billion for SME Lending

Sidian Bank and FMO, a Dutch entrepreneurial bank, have partnered to unveil a KSh1.65 billion facility for lending towards Small and Medium-sized Enterprises (SMEs).

The facility under the NASIRA program, is seeking to strengthen Sidian Bank’s ability to provide financing to MSMEs affected by the COVID-19 crisis in Kenya. A minimum of 30% of the total guarantee facility will be allocated specifically to young and female entrepreneurs.

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A technical assistance program will be offered alongside the guarantee to support Sidian Bank in building staff capacities and developing financial and non-financial service for the NASIRA target groups in particular those active in the agricultural sector.

The NASIRA program is a risk sharing facility for local financial institutions, supported by the European Union and MASSIF, the financial inclusion fund FMO manages on behalf of the Dutch government.

See Also:

Equity Bank to Receive KSh5.6 Billion for SME Lending


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