Barclays gets P1.35bn loan from U.S govt

Tuesday, July 26, 2016

Barclays MD, Reinette van der Merwe (right) with OPIC delegates PIC: MORERI SEJAKGOMO

The U.S government finance institution has channelled a $125 million (P1.35bn) loan into Barclays Bank of Botswana to help develop Botswana’s diamond industry.

The guaranteed agreement is part of a $250 million (P2.7bn) Overseas Private Investment Corporation (OPIC) loan guarantee programme to Lazare Kaplan International (LKI) through its subsidiary Botswana Finance LLC, with Barclays Bank of Botswana being the first lender in the programme.

Speaking at the signing, Barclays Bank of Botswana managing director, Reinette van der Merwe said the partnership recognises OPIC and the bank’s commitment to sustain the diamond industry.

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