Tanzania's CRDB Bank Secures $200million Facility from Citbank and U.S DFC.

Citibank, the US banking division of Citigroup, and The U.S. International Development Finance Corporation (DFC)  have collaborated to offer CRDB Bank Tanzania, the largest commercial bank in Tanzania, a significant financing package of $320 million. 

Why does this matter: This partnership is crucial as it addresses the challenge of limited funding for small business growth in Africa, and growing influence of private credit facilities to meet these funding needs.The new funding is particularly beneficial for micro and small businesses in Tanzania, especially those led by women, who often face challenges securing credit to start and grow their business. 

Tanzania, known for its rapid economic growth and the infusion of funds into CRDB's will help the bank to leverage its broad commercial banking network to distribute the commercial loans to small businesses, specifically focusing on women-led enterprises. Approximately $60 million will be allocated to support this growing market segment.