December 2, 2008
South Africa's Blue Financial Services (BFSJ.J: Quote, Profile, Research, Stock Buzz) has received a $70 million loan from the Overseas Private Investment Corporation (OPIC) to use for its small business lending, the micro financier said on Monday.
The loan is part of a $250 million small business lending programme for South Africa that OPIC, a U.S. government agency which helps U.S. businesses invest abroad, announced in May.
"We anticipate that this new facility would result in a significant number of loans to urban and rural enterprises, with more than half the borrowers being women," said Blue Chief Executive Officer Dave van Niekerk in a statement.
Earlier this year OPIC guaranteed a $10 million loan from World Business Capital to Blue to help expand its operations in Kenya, Tanzania and Uganda. (Reporting by Serena Chaudhry)
Source: http://www.reuters.com/article/rbssFinancialServicesAnd