EXIM bank opens $15m credit lines for Kenyan SMEs

The Export-Import Bank of India has activated a $15 million credit line for Kenyan SMEs to finance imports.

The Indian lender signed the financing agreement with the kenyan government in July last year during the visit of Indian Prime Minister Narendra Modi to the country.

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The $15 million is being channeled through the Industrial Development Bank.

Under the terms of the credit, Kenyan SMEs will have to source two thirds of the goods or services under purchase from India, which will expand Indian exports to Kenya .

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