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The European Investment Bank (EIB) and European Union on Friday announced a new collaboration with Ecobank Malawi to improve access to finance for SMEs in the agriculture sector in the country as the European institutions are set to improve access to long-term finance in agriculture value chain in Malawi with €25 million (K24 bn) credit line for smallholder farms and agricultural cooperatives. EU’s External Investment Plan supported the EIB in the signing of a €12.5m (K12bn) loan with Ecobank Malawi, which will be complemented by an EU financed risk sharing facility as well as a technical assistance program, to support SMEs in the agri-food sector. ....
EIB and EU support Ecobank Malawi to finance SMEs in agriculture sector Supported by the EU’s External Investment Plan, the EIB signed a €12.5m loan with Ecobank Malawi, which will be complemented by an EU financed risk-sharing facility as well as a technical assistance program, to support SMEs in the agri-food sector. EIB | Blantyre | Updated: 07-05-2021 22:26 IST | Created: 07-05-2021 22:26 IST The targeted financing of projects under these operations amounts to a total of €50 million, ensuring that agricultural companies across Malawi will be able to access loans with maturities of up to 7 years, longer than commonly available in the market. Image Credit: Wikipedia ....