FCB in fresh talks with EIB

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FIRST Capital Bank (FCB) Zimbabwe says appetite for its lines of credit has been encouraging to the extent that it is now in fresh negotiations with the European Investment Bank (EIB) to get another facility to support exporters in the coming year.
The bank says financing the productive sectors of the economy continues to be a major area of focus for it.
On top of EUR12,5 million in foreign lines of credit from the EIB, the bank secured US$20 million through Afreximbank in August this year.
Speaking to The Financial Gazette on the sidelines of the groundbreaking ceremony for FCB’s new head office in Harare last week, chief executive Tapera Mushoriwa said the need for funding in the economy was significant.
“This is why we then went further; we are working with EIB on another extended facility for 2024 and it is quite encouraging that the performance of those facilities has been so positive that even EIB themselves are looking at extending further lines,” he said.
The EIB facility has been completely utilised.