Kenya: Sh5.5bn Fund to Support Kenya's Green Projects, World Bank

By Kevin Rotich

Nairobi — The World Bank has announced plans to inject Sh5.5 billion ($43 million) into green projects in Kenya following talks with the Kenya Development Corporation (KDC).

The funding will be channelled through a proposed Green Investment Fund, which will prioritise electric mobility and transport, energy-efficient and green buildings, sustainable agriculture, and waste management solutions.

"These sectors were recognised as offering strong potential for near- and medium-term deployment, supported by policy direction, market demand, and improving enabling conditions," officials said following a high-level meeting between KDC and World Bank representatives.

The discussions also covered Component 3 of the Kenya Jobs and Economic Transformation (KJET) Project, which focuses on mobilising private capital and strengthening climate resilience among small and medium-sized enterprises (SMEs), as well as the SAFER Project.

KJET aims to increase private sector investment, improve access to markets, and expand sustainable finance to create and enhance jobs, while advancing Kenya's green growth and climate resilience agenda.

"Through KJET and SAFER, KDC is delivering tangible results by crowding in private capital, strengthening financial intermediaries, and expanding access to patient and affordable finance for SMEs," said KDC Director General Norah Ratemo.

She added that progress on the Green Investment Fund marks a critical step towards scaling climate-smart investments that create jobs, enhance resilience, and support sustainable enterprise growth.

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