Dar es Salaam. CRDB Bank has signed a fresh agreement with PROPARCO, the French development finance institution, for a €48 million (Sh129 billion) facility to fund small and medium-sized enterprises (SMEs), particularly those owned by women and young entrepreneurs.
Speaking at the signing ceremony on March 25, 2025, CRDB Bank Group CEO, Abdulmajid Nsekela, said the agreement will accelerate financing for youth- and women-led enterprises operating in high-impact sectors such as healthcare, education, agriculture, and renewable energy.
The agreement encompasses loan guarantees under the EURIZ and ARIZ schemes.
PROPARCO’s East Africa regional director, Jean Guyonnet-Dupérat, said that the initiative aligns with PROPARCO’s broader €2.4 billion global entrepreneurship support programme, half of which is earmarked for Africa.
He noted that the new funding agreement reinforces PROPARCO’s commitment to strengthening the SME sector in Tanzania.
French Ambassador to Tanzania, Anne Sophie Avé, who was also present at the event, expressed France’s pride in supporting women and youth entrepreneurs in the country.
She commended CRDB Bank’s role in fostering inclusive economic growth and sustainable development.
The agreement marks a significant step in CRDB Bank’s mission to expand access to finance for SMEs, addressing key barriers to capital while driving economic resilience and innovation in Tanzania.
A longstanding partnership for economic growth
The agreement builds on a longstanding collaboration between CRDB Bank and PROPARCO, which has seen multiple financing and guarantee schemes introduced over the years to enhance financial inclusion and economic empowerment.
CRDB Bank, one of Tanzania’s largest financial institutions, has leveraged PROPARCO’s support to expand access to capital for underserved segments of the economy, particularly in rural areas.
Through previous partnerships, CRDB has been able to extend credit to businesses in key economic sectors, including agribusiness, manufacturing, and infrastructure.
The latest funding reaffirms both institutions’ commitment to bridging the financing gap for SMEs, a crucial segment that contributes significantly to Tanzania’s economic development.
The agreement marks a significant step in CRDB Bank’s mission to expand access to finance, addressing key barriers to capital while driving economic resilience and innovation in Tanzania.
