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KCB Group committed Sh53.2 billion to green finance, advancing Kenya’s climate goals.
Kenya’s KCB Group has committed Sh53.2 billion to green finance, with green loans now making up 21.32% of its portfolio, nearing its 2025 target of 25%.
The bank is funding renewable energy, climate-smart agriculture, green buildings, and clean transport, while screening Sh578.3 billion in loans for environmental risks.
It secured a Sh70.2 million project preparation facility from the Green Climate Fund, the first in East Africa, and aims to raise $118.2 million in international climate capital.
KCB’s “Linda Miti” initiative planted 1.38 million trees in 2024, and its subsidiaries in Uganda, Rwanda, and Tanzania expanded sustainability and financial inclusion efforts.
The Capital Markets Authority licensed Kenya Climate Ventures, a new fund manager, to boost climate finance for growth-stage enterprises, with plans to raise $25 million.
The move supports Kenya’s broader climate resilience goals and sustainable economic development.
El Grupo KCB comprometió Sh53.2 mil millones en finanzas verdes, avanzando en los objetivos climáticos de Kenia.