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          This project is now closed.  
       
       
           
       
       
         This project is Multi Country Facility (MCF) of up to US$75 million to foster a multi-country partnership between Standard Bank Group Limited (SBG or the Group) and IFC.  IFCs facility would consist of subordinated / Tier 2 loans (IFC C loans) and would finance SBGs majority-owned subsidiaries (SBG Subsidiaries) in DRC, Ghana, Kenya, Malawi, Mauritius, Mozambique, Tanzania, Uganda and Zambia.  The financing would be subject to requisite regulatory approvals.  
       
       
           
       
       
         The project offers a unique opportunity to foster a strong partnership between one of the largest African banking groups and IFC.  By providing the proposed loans to the local SBG Subsidiaries, IFC will help expand the Groups operations in the region, enhancing SBGs competitive position and bringing best practices and better access to high quality banking services and products to the respective markets. 
       
       
           
       
       
         
           Board Approved IFC Investment  Update as of February 2018 
         
       
       
         
           
             
                 
             
           
         
       
       
         
            
             
               
                 
                   Sub-Project 
                 
               
             
             
               
                 
                   Investment Date 
                 
               
             
             
               
                 
                   Board Approved IFC Investment 
                 
               
             
             
               
                 
                   Sub-Project Status 
                 
               
             
           
           
             
               
                 Stanbic Ghana (25181) 
               
             
             
               
                 29 January 2007 
               
             
             
               
                 $13 million 
               
             
             
               
                 Closed 
               
             
           
           
             
               
                 Stanbic Tanzania (25182) 
               
             
             
               
                 27 December 2006 
               
             
             
               
                 $3 million 
               
             
             
               
                 Closed 
               
             
           
           
             
               
                 Stanbic Kenya (25183) 
               
             
             
               
                 30 June 2009 
               
             
             
               
                 $10 million 
               
             
             
               
                 Closed 
               
             
           
           
             
               
                 Stanbic Zambia (25184) 
               
             
             
               
                 20 December 2006 
               
             
             
               
                 $11 million 
               
             
             
               
                 Closed 
               
             
           
           
             
               
                 Stanbic DRC (25450) 
               
             
             
               
                 6 March 2009 
               
             
             
               
                 $3 million 
               
             
             
               
                 Closed 
               
             
           
           
             
               
                 Standard Bank Mauritius (25451) 
               
             
             
               
                 14 November 2008 
               
             
             
               
                 $20 million 
               
             
             
               
                 Closed 
               
             
           
          
       
       
           
       
       
         As of February 2018, IFC had not invested in any of the following SBG subsidiaries: Mozambique, Malawi, Uganda and the original Project is now closed. ?	The project will support the development of the regional banking sectors which are still underdeveloped; and
?	The project will facilitate additional term financing for local companies and individuals in each country.