Co-op boosts dollar lending capacity with $100m currency swap

Co-operative Bank of Kenya has enhanced its capacity to provide long-term dollar financing to Kenyan businesses after securing a $100 million currency swap program with the European Bank for Reconstruction and Development (EBRD). This swap allows for the exchange of a loan in one currency for an equivalent loan in another currency, locking in a pre-agreed exchange rate to protect both parties from market fluctuations.