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KCB, USAid sign Sh100m funding for livestock farmers

Liv Im

Livestock farmers in Kenya’s arid and semi-arid lands (Asals) will receive training and financing from KCB Foundation following its partnership with USAID. FILE PHOTO | NMG

Livestock farmers in Kenya’s arid and semi-arid lands (Asals) will receive training and financing from KCB Foundation #ticker:KCB following its partnership with the United States Agency for International Development’s Kenya Investment Mechanism.

The parties said in a statement on Thursday that the deal will train and equip these farmers with “climate-smart agricultural practices to mitigate against the dire impacts of climate change.”

Much of northern Kenya is forecast to be sunny and receive below-average rainfall, Kenya Meteorological Department says. Climate change is expected to increase the frequency and severity of droughts in the region, according to experts.

The two-year partnership will mobilise Sh100 million in financing for the farmers through strategic partners with a goal of growing the funding to Sh500 million.

The first year of the partnership will see KCB train bank staff on livestock financing. Additionally, at least 50 livestock co-operatives and farmer groups will receive technical support to increase their productivity, said the parties.

USAID’s Kenya Investment Mechanism (KIM) will also support the design of “suitable financing products for livestock value chain players” with the objective of enhancing lending to the livestock sector and providing linkages to other USAID programmes that can enhance smallholder farmers’ productivity.

“The partnership is aligned with our commitment to enhance sustainable agricultural practices in Asals, to improve their commercial viability and livestock value chain by enhancing access to credit and markets, leading to better income opportunities,” KCB head of Foundation Caroline Wanjeri said in a statement.

Due to climate change, the recurrence and intensity of droughts have increased in Kenya, particularly affecting the Asals, which now experience droughts almost annually.

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