Entrepreneurs and private business in Malawi will benefit from a new EUR 7 million agricultural credit line managed by FDH Bank, following the bank’s partnership with the European Investment Bank.

The EUR 3.5 million European Investment Bank loan to support the FDH Bank credit line was formally signed at the Africa Investment Forum in Johannesburg by Ambroise Fayolle, European Investment Bank Vice President and Patricia Hamisi, Senior Manager Treasury and Trade Finance at FDH Bank, as Hamisi outlined that European Investment Bank is committed to supporting private sector investment in Malawi.

On the other hand, the EIU Vice President said that the initiative will tackle barriers holding back agricultural investment in Malawi. On the other hand, Thomson Mpinganjira, the Executive board member and Managing Director of FDH Bank Limited, expressed excitement over the venture. “FDH Bank is pleased to partner with the EIB to strengthen financing for business and entrepreneurial investment across Malawi. The EUR 3.5 million EIB support for the new EUR 7 million credit line demonstrates a vote of confidence for FDH and Malawi.” said Mpinganjira.

The program dubbed Kulima initiative, is a credit line that is part of a EUR 100 million private sector financing program across Southern Africa supported by the European Investment Bank.