Afreximbank launches $3 billion Country Programme with Kenya
The three-year programme will support viable trade and trade-related investments in Kenya in both the private and public sectors.
African Export-Import Bank (Afreximbank) has signed a $3 billion Country Programme with the government of Kenya. The official signing ceremony was witnessed by President William Ruto at State House Nairobi.
The three-year programme will support viable trade and trade-related investments in Kenya in both the private and public sectors. The financing package will be implemented using several instruments, including loans, guarantee facilities, trade services, investment banking and advisory services.
Kenya will be the first country to access Afreximbank's recently introduced Climate Change Adaptation Facility to be implemented as a component of the country programme, with an US$800 million Kenya Climate Change Adaptation Facility (KCCAF). This will be directed towards developing 200 irrigation schemes under a public-private partnership framework using structures that are budget and sovereign-debt-neutral.
In addition, Afreximbank will support Kenya’s industrialisation and export-led development agenda by financing the development and operationalisation of Special Industrial Zones to strengthen the country’s export manufacturing. Other targeted areas are infrastructure and banking.
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