IFC Provides $15 M Loan for Women Entrepreneurs to GBA Member RAWBANK

Monday 19th May 2014

RAWBANKThe IFC announced that it will provide a $ 15 million loan to RAWBANK to support lending to small and medium businesses and women entrepreneurs in the Democratic Republic of Congo.

Starting operations as a small, family-owned bank in 2002, Rawbank has since expanded to become the largest bank in DRC in terms of total assets and deposits. The bank has 36 branches across the country offering corporate, retail, and private banking services.

Rawbank will use IFC’s financing in part to expand its reach to women. Women in the DRC have more difficulty gaining access to finance than men. With the support of IFC Advisory Services, Rawbank recently introduced a ‘Lady’s First’ banking project, offering specialized services to women. The project has already loaned over $3 million to Congolese women. With the new loan agreement, IFC will continue to offer advisory services to Rawbank on targeting women customers and risk management.