The United Kingdom has pledged £6.6 million (Sh1.1 billion) to support 50 green investment projects in Kenya. These projects will span across 10 counties: Embu, Kirinyaga, Kisumu, Laikipia, Nairobi, Makueni, Nandi, Taita-Taveta, Vihiga, and Wajir.
Guided by the County Green Finance Assessment, this funding aims to address environmental challenges while stimulating economic growth and job creation. The assessment evaluated each county’s financial performance, credit risk, and green investment opportunities.
Leigh Stubblefield, Development Director at the British High Commission Nairobi, highlighted Kenya’s vulnerability to climate-induced disruptions and commended the country’s climate efforts. The funding will empower counties to strategically allocate resources to sectors such as water, healthcare, and energy infrastructure.
Tamara Cook, CEO of Financial Sector Deepening Kenya (FSD Kenya), emphasized the importance of aligning projects with local priorities. FSD Kenya will support counties in developing and implementing green projects, focusing on sectors like water, energy, waste management, and transport.
This initiative underscores the UK’s commitment to sustainable development partnerships, aiming to foster a greener, more resilient future for Kenya and beyond.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
26th April, 2024
