Kenya-based Family Bank has partnered with international non-profit organisation Water.org to offer to finance for water, sanitation, and hygiene service providers, Business Daily Africa has revealed.
The loan product, dubbed MajiPlus, will provide up to 80 percent financing with a maximum repayment period of 60 months. There will also be a moratorium of six to 12 months. The interest rate will be 13 percent on a reducing balance.
The loans target enterprises seeking to fund expansions to facilitate services such as rainwater harvesting, storage, water distribution, borehole construction, construction of domestic and commercial biogas plants and improvement of sewerage systems.