Release date: 10 October 2023
Promoter – Financial Intermediary
KCB BANK KENYA LTDLocation
Description
The facility provides funding to KCB Kenya for on lending to limited scale projects undertaken by private sector entities, notably small and medium sized enterprises (SMEs), with a particular focus on projects impacting positively on gender equality and women's economic empowerment, in line with the 2X Challenge Criteria. SMEs play an important economic role in driving growth and creating employment in Kenya, contributing to over 90% of the workforce. However, the the sector development is constraint by access to finance, which is particularly the case for women and other disadvantaged groups.
Objectives
This operation is expected to address the financing gap by supporting investments and working capital needs of SMEs with a focus on women-owned or managed enterprises and therewith drive financial inclusion and economic empowerment of women thereby enabling job creation, growth, and improved resilience of SMEs.
Sector(s)
- Credit lines - Credit lines
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Approved - 8/11/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).