KCB secures Ksh.12.9 billion EBRD funding to boost SMEs, green projects lending
KCB Bank has secured Ksh.12.9 billion in funding from the EBRD to support small and medium-sized enterprises in Kenya. The initiative specifically targets women-led businesses and green energy projects to foster sustainable economic growth.
Why it matters
This investment represents a significant effort to bridge the financing gap for small businesses and promote climate-smart development in East Africa.
The funding agreement is expected to boost access to affordable credit for small businesses, which remain a key driver of Kenya's economy but continue to face financing constraints.
Under the arrangement, 35 per cent of the facility will be allocated to women- and youth-led enterprises, while 30 per cent will support eligible green investments, including projects that adopt climate-smart technologies and environmentally sustainable business practices.
The EBRD said the investment marks its first financing of Kenya's financial sector and is aimed at strengthening private sector growth.
EBRD Managing Director for Sub-Saharan Africa, Dr. Heike Harmgart, said the partnership would help channel much-needed financing to MSMEs while supporting Kenya's transition to a greener economy.
She noted that women and young entrepreneurs are central to the country's long-term economic growth and that expanding their access to finance would enhance job creation and business development.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in