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    Signature(s)

    Amount
    € 50,000,000
    Countries
    Sector(s)
    Kenya : € 50,000,000
    Credit lines : € 50,000,000
    Signature date(s)
    22/05/2024 : € 50,000,000

    Summary sheet

    Release date
    10 October 2023
    Status
    Reference
    Signed | 22/05/2024
    20230338
    Project name
    Promoter - financial intermediary
    ACP GENDER SME FINANCE FACILITY - KCB KENYA
    KCB BANK KENYA LTD
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 50 million
    not applicable
    Location
    Sector(s)
    Description
    Objectives

    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.

    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.

    Environmental aspects
    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Under Global Europe NDICI guarantee

    Under EFSD+ Guarantee

    Milestone
    Under appraisal
    Approved
    Signed
    8 November 2023
    22 May 2024
    Related projects
    Link to source

    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).

    News & Stories

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