Release date: 10 October 2023
Promoter – Financial Intermediary
KCB BANK KENYA LTDLocation
Description
The project consists in a credit facility to enhance access to finance for micro, small and medium-sized Enterprises (MSMEs) and mid-caps, which play an important economic role in driving growth and creating employment, contributing to over 90% of the workforce. The sector is however facing constraints in accessing finance, in particular young people, which are the vital driving force of inclusive economic growth and sustainable development in Kenya.
Objectives
The aim is to enhance access to finance to the target beneficiaries via KCB's targeted financial products and support a conducive environment for private sector investments, which are vital to create jobs and income opportunities. The operation will support the private sector inclusive growth, decent job creation for young people and youth entrepreneurship across the country.
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)
EUR 100 million
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).