The bank's chief executive James Mwangi said
the funds would be deployed to help Kenyan enterprises alleviate sudden
economic disruptions caused by the Covid-19 outbreak.
Co-operative
Bank, KCB and Equity are among the lenders that have borrowed from
international financiers to fund their long-term lending business.
Lenders
have complained of a mismatch between long-term loans and customer
deposits that are mostly short- term, exposing a gap that they have
chosen to fill with credit from international institutions that charge
single-digit interest rates.
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