KCB Bank Kenya, French development agency Proparco agree $95 million credit line

KCB Bank Kenya and French development agency Proparco have agreed a $95 million credit line to finance climate-related projects and help empower female entrepreneurs in Kenya, the two institutions said on Thursday.

KCB Bank Kenya and French development agency Proparco have agreed a $95 million credit line to finance climate-related projects and help empower female entrepreneurs in Kenya, the two institutions said on Thursday. KCB, a unit of KCB Group, will lend the funds for projects that focus on environmental sustainability and high social impact, particularly in the health and education sectors, they said in a joint statement.

"Climate change is the defining issue of our time," said KCB Group CEO Paul Russo. "This credit line enables us to scale up our financing efforts to accelerate the green transition in Kenya, build on the success of our women proposition, and ultimately contribute to a more inclusive, sustainable, and resilient development."