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EIB, CABS ink US$18m deal
Tatira Zwinoira ·
THE European Investment Bank (EIB) has unveiled a €15 million (US$18 million) seven-year facility to Zimbabwe’s biggest mortgage lender, CABS, to bail out thousands of firms that have been affected by COVID-19.
The intervention is part of EIB’s strategy to scale up interventions across African markets to build resilience in the region’s companies during the pandemic.
It is part of an approved response strategy unveiled by European Union (EU) finance ministers after the COVID-19 outbreak last year.
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