EU, AfDB sign deal to finance agribusinesses

The European Union (EU), Denmark and the African Development Bank (AfDB) have signed a partnership deal that will see 2,400 agribusinesses in eight counties. FILE PHOTO | NMG 

By JAMES KARIUKI
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Summary

• The European Union (EU), Denmark and the African Development Bank (AfDB) have signed a partnership deal that will see 2,400 agribusinesses in eight counties funded to scale up operations.
• The AgriBiz programme, implemented by the Kenya Climate Innovation Centre is expected to generate 17,000 new jobs with Sh5.1 billion expected to be spent on the project.

The European Union (EU), Denmark and the African Development Bank (AfDB) have signed a partnership deal that will see 2,400 agribusinesses in eight counties funded to scale up operations.

The AgriBiz programme, implemented by the Kenya Climate Innovation Centre is expected to generate 17,000 new jobs with Sh5.1 billion expected to be spent on the project.

The beneficiaries from women and youth-led self-help groups would be chosen in the next 21 days in an open competition launched recently before the application period closes on May 22.

The application guidelines and modalities are available on www.kenyacic.org.

A statement on the programme said the project would also establish business incubation hubs in Kilifi, Machakos, Kiambu, Meru, Isiolo, Kisii, Bungoma and Uasin Gishu.

Agriculture PS Hamadi Boga urged women and youth groups to apply for the funds, saying the programme aims to attract the younger people into taking up agriculture as a full-time enterprise.

EU Ambassador Simon Mordue added: “There are many youth and women with excellent business ideas in Kenya and we are happy that KCIC has found the way to bring technical and financial assistance to them. This is a vital injection of life for the Kenyan economy and food security.”