NEW: First Capital secures 12,5m euros for SMEs

Online Reporter

First Capital Bank Limited, in partnership with the European Investment Bank and the European Union, has secured a developmental line of credit to the tune of 12,5 million euros.

The funding is set to develop eligible investment projects undertaken by small to medium enterprises (SMEs) and mid-cap companies under First Capital Bank Limited locally.

Said First Capital Bank (Zimbabwe) chairperson Mr Patrick Devenish: ” We are excited to be launching this credit line as it unlocks diverse opportunities for our clients who have steadily grown their businesses and positioned themselves for prospects such as this.

“Sterling collaborative efforts have been apparent at every step of this journey, echoing our value system that challenges us to create value within existing relationships.”

The credit line is part of the Zimbabwe Private Sector Facility from the Impact Finance Envelope of the Investment Facility (IF) that is extended by the European Investment Bank to a group of financial institutions located in Zimbabwe.