ADB and SQB signed a US$50m senior convertible loan. IFC and EBRD participated as parallel lenders.
ADB and SQB signed a US$50m senior convertible loan. IFC and EBRD participated as parallel lenders. Proceeds were intended to expand financing for MSMEs, including women-owned or women-led businesses.
ADB also provided technical assistance for SQB's transformation roadmap. MSMEs represented about 74% of employment but received only 13% of commercial credit; the women-owned MSME finance gap was estimated at US$2.7bn.
The convertible structure linked balance-sheet funding to privatisation readiness and provided a strategic-capital precedent for state-bank transformation.
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