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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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