FirstRand SL

The proposed engagement with FirstRand Bank (the “Bank”), the operating banking subsidiary of FirstRand Limited, a listed holding company in the Republic of South Africa (“RSA”), is well aligned with IFC’s strategy for the African financial sector. The project consists of an unsecured 7-year senior loan of up to US$150 million to help the Bank grow its lending to Small and Medium Enterprises (“SMEs”) with a particular focus on underbanked SMEs to boost job creation in the country (the “Project”)