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Signature(s)

Amount
€ 15,000,000
Countries
Sector(s)
Kenya : € 15,000,000
Credit lines : € 15,000,000
Signature date(s)
22/05/2024 : € 15,000,000

Summary sheet

Release date
10 October 2023
Status
Reference
Signed | 22/05/2024
20230346
Project name
Promoter - financial intermediary
ACP GENDER MICROFINANCE FACILITY - KCB KENYA
KCB BANK KENYA LTD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 15 million
not applicable
Location
Sector(s)
Description
Objectives

The facility provides funding to KCB Bank Kenya to support micro and small enterprises impacting positively on gender equality and women's economic empowerment. Micro and small enterprises play a significant role in Kenya's economy, by providing goods, services and creating employment across all economic sectors. However, their growth opportunities are often limited, being often excluded from the traditional banking system, due to perceived higher credit risk and lower appetite by the formal financial institutions.

The aim is to enhance access to finance for the target beneficiaries and contribute to financial inclusion, supporting in particular those micro and small businesses owned or managed by women, in line with the 2X Challenge Criteria. As such, the operation is expected to achieve a high development impact.

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).

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