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Market NewsNewsStanbic Botswana signs $125 loan guarantee with OPIC, LKI

Stanbic Botswana signs $125 loan guarantee with OPIC, LKI

Stanbic Bank Botswana, which is a member of Standard Bank Group, has, along with the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, and Botswana Finance, a subsidiary of Lazare Kaplan International, signed a $125 million loan guaranty, which will encourage and support lending to diamond manufacturers and polishing companies, while allowing the organisations to share credit risk, miningweekly.com reported.

The loan guaranty will help diversify Botswana’s economy, drive the development of the local financial sector and provide local companies with access to financing, said the miningweekly.com report.

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