State Bank of Mauritius gets 30 mln eur EIB loan
12 years, 11 months ago - May 26, 2011
State Bank of Mauritius (SBM), the Indian Ocean island's second-biggest bank, has obtained a 30 million euro loan from the European Investment Bank to finance private sector projects, it said on Wednesday.
SBM, which has about 25 percent market share, said in a statement will be used to finance projects in Mauritius and in Indian Ocean countries.
"Part of the funding will target specifically small and medium-sized enterprises. The EIB support package will be accompanied by technical assistance to improve lending to Mauritian SMEs," SBM said.
EIB provided a similar loan of 20 million euros in 2001.
SBM Chief Executive, Gautam Vir said the second line of credit will allow SBM to fulfil long-term foreign currency funding needs of its clients, especially those in export-oriented sectors.
