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Cherie Blair witnesses African loan agreement
19/03/2007
Prime minister Tony Blair's wife Cherie was the guest of honour at a new business loans agreement in Tanzania recently, it has emerged.
She was present to see the International Finance Corporation (IFC) give a $5 million (£2.57 million) loan to Exim Bank of Tanzania - money which will be used to finance women-owned firms, according to the East African.
It is the first time one of Tanzania's financial institutions has decided to dedicate lines of credit to businesswomen who run small to medium-sized enterprises, the publication reveals.
Furthermore, the IFC sees the move as way of improving the livelihoods of a wide section of society.
"We aim, with this investment and our advisory service, to bridge the gap between women entrepreneurs who need financing and banks that are looking for new customers," said the IFC's director for environment and social development Rachel Kyte.
Jyrki Koskelo, director of IFC's financial markets department, added: "By partnering with Exim Bank, IFC will support women entrepreneurs' increased participation in Tanzania's economy."
She was present to see the International Finance Corporation (IFC) give a $5 million (£2.57 million) loan to Exim Bank of Tanzania - money which will be used to finance women-owned firms, according to the East African.
It is the first time one of Tanzania's financial institutions has decided to dedicate lines of credit to businesswomen who run small to medium-sized enterprises, the publication reveals.
Furthermore, the IFC sees the move as way of improving the livelihoods of a wide section of society.
"We aim, with this investment and our advisory service, to bridge the gap between women entrepreneurs who need financing and banks that are looking for new customers," said the IFC's director for environment and social development Rachel Kyte.
Jyrki Koskelo, director of IFC's financial markets department, added: "By partnering with Exim Bank, IFC will support women entrepreneurs' increased participation in Tanzania's economy."