African Development Bank Group and KCB Bank sign $150 million deal to accelerate green lending and trade
Kenya, Dec. 11 -- The African Development Bank Group (AfDB) and KCB Bank Kenya Limited have signed a $150 million financing package to support green finance and accelerate climate-smart investments to enhance KCB's trade finance capacity within the growing small business and corporate banking sector in Kenya.The package comprises a $100 million subordinated debt facility which will strengthen KCB Kenya's Tier II capital, reinforcing its role as a key financial intermediary in strategic sectors and supporting its goal to allocate 25% of its portfolio to green initiatives by 2031. These initiatives include renewable energy, infrastructure, and agriculture. A $50 million transaction guarantee will enable the African Development Bank to provide...
To read the full article or to get the complete feed from this publication, please
Contact Us.