22.3 C
Brisbane
Saturday, October 31, 2020

KCB goes green with US$150 Million IFC credit

Must read

Uganda records new highest daily increase in Covid-19 cases

Uganda’s health ministry on Thursday recorded 434 new coronavirus cases, its highest daily increase in cases since the outbreak began.

Sudan faced with turning militia ragbag into the genuine army as it sheds its pariah status

The lifting of US sanctions on Sudan will open the way to bilateral cooperation, not least in the military domain. And time...

Education CS George Magoha: “Schools to reopen whether there is a second or third wave of Covid-19 attacks.”

Education Cabinet Secretary Prof George Magoha appealing to Kereri Girls students to keep wearing masks, maintain social distance, pray and always have...

20 years under Rwanda’s ‘benevolent dictator’ Paul Kagame

President Paul Kagame marks 20 years at the helm of Rwanda. He's praised by some as a pioneer for women's rights and...

Kenya Commercial Bank(KCB) Limited has obtained US$150 million credit from the International Finance Corporation (IFC), for onward green lending.

This credit also targets small and medium-sized enterprises, especially those that are run by women and the youth.

KCB Bank is one of the lenders that has embedded environmental sustainability at its strategic, portfolio, and transactional levels across all business areas.

“This financing is aligned with our green financing goals, and will also enable us to expand our financing to SME and special market segments like women and youth-owned enterprises that are critical to the growth of the economy, but are facing acute financing gap,” said Joshua Oigara- KCB Group Chief Executive Officer & Managing Director.

This IFC credit support complements Kenya’s plan, through its recently launched credit guarantee scheme, to provide financial support to small businesses, especially those hit by effects of the COVID-19 pandemic.

“We are happy to partner with IFC in this innovative financial instrument, which will enable us to support the economy as the country begins recovery from the impact of COVID-19. It will enable us to open a path for more credit to the Small and Medium-Sized entrepreneurs,” Oigara said.

KCB Group, was last year, the only East African Bank lender among 30 other global banks under the auspice of UNEP- FI to develop and launch Principles for Responsible Banking-these are guiding tools for international banking industry players aspiring to run sustainable businesses.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Uganda records new highest daily increase in Covid-19 cases

Uganda’s health ministry on Thursday recorded 434 new coronavirus cases, its highest daily increase in cases since the outbreak began.

Sudan faced with turning militia ragbag into the genuine army as it sheds its pariah status

The lifting of US sanctions on Sudan will open the way to bilateral cooperation, not least in the military domain. And time...

Education CS George Magoha: “Schools to reopen whether there is a second or third wave of Covid-19 attacks.”

Education Cabinet Secretary Prof George Magoha appealing to Kereri Girls students to keep wearing masks, maintain social distance, pray and always have...

20 years under Rwanda’s ‘benevolent dictator’ Paul Kagame

President Paul Kagame marks 20 years at the helm of Rwanda. He's praised by some as a pioneer for women's rights and...

MEET ONE OF THE AFRICA’S TALLEST PRESIDENT BUT SHORTEST IN HIS FAMILY

He has been celebrated by the majority of his country as a brave leader, Paul Kagame was born on 23 October 1957,...