Mauritius-based Bank One Secures $37m Loan from IFC

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Mauritius-based Bank One, has secured a loan facility worth $37.5 million from the International Finance Corporation (IFC).

The loan, which is classified as a senior loan, meaning it ranks higher than other Bank One’s obligations with regards to claims on the bank’s assets, was secured to help the Bank boost lending to small businesses and expand its SME operations.

“The IFC loan will strengthen the bank’s long-term funding position and support the expansion of its lending operations to SMEs,” the IFC said in its investment disclosures seen by Business Daily Africa.

The loan deepens IFC’s lending to banks for onward funding of SMEs, women-owned businesses and climate-related projects.



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