KCB Bank Kenya has announced that it has secured a $95 million credit line from Proparco, a subsidiary of Agence Française de Développement (AFD) Group. The facility will be used to finance climate-related investment projects and empower women entrepreneurs in Kenya.
- The project is a syndication of European Financing Partners (EFP), led by Proparco, which is contributing $35 million and $60 million, respectively.
- KCB says it will use the funds for onward lending to projects that prioritize environmental sustainability and high social impact, particularly in the health and education sectors.
- 30% of the credit line will be allocated to women entrepreneurs