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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
20230540
Project name
Promoter - financial intermediary
ACP INCLUSIVE GROWTH & YOUTH EMPLOYMENT -KCB KEN
KCB BANK KENYA LTD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
EUR 100 million
Location
Sector(s)
Description
Objectives

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.

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.

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
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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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