IFC, SANAD, BIO, Symbiotics Announce Loan to KCB Bank Kenya for Green Projects, SMEs

IFC, a member of the World Bank Group, The SANAD Fund for MSMEs (SANAD), the Belgian Investment Company for Developing Countries (BIO), and Symbiotics announced a loan to KCB Bank Kenya Ltd this week to help the bank increase lending for climate-friendly projects and to smaller businesses, especially those owned by women.

The loan of up to $150 million will strengthen KCB Bank Kenya's capital base and allow it to finance eligible projects and businesses, many of which are facing COVID-19-related challenges, including challenges accessing working capital and funds for expansion.