Britain has extended Sh1.1 billion to Kenya to help 10 counties access green finance.
Britain has extended Sh1.1 billion (£6.6 million) to Kenya to help 10 counties access green finance for funding eco-projects.
The UK government said the money will fund the devolved units to direct investment towards sectors most in need of support including water, healthcare and energy infrastructure.
The 10 are Embu, Kirinyaga, Kisumu, Laikipia, Nairobi, Makueni, Nandi, Taita-Taveta, Vihiga and Wajir.
Britain also disclosed funding an expert analysis to guide the investments.
“These could deliver economic returns whilst meeting the specific needs of local communities,” the advisory said.
“As flooding causes disruption across Kenya, we can clearly see that the countries least responsible for climate change are the worst affected. We admire Kenya’s impressive climate credentials and are proud of our climate partnerships,” said Leigh Stubblefield, the development director at the British High Commission in Nairobi.
According to the British High Commission, the money is meant to kick-start establishment of 50 green investment projects nationwide.
The report was developed by Agusto & Co Africa’s first and only credit-rating agency for verifying green bonds, projects and assets.
“This was in partnership with the Capital Markets Authority, the Adaptation Consortium, and the Nairobi Securities Exchange. The assessment was completed with the approval of the National Treasury and Economic Planning,” the British government noted.
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