Multilateral Investment Guarantee Agency has in the past four months committed $229.14 million (Sh29.6 billion) to cover three clean energy projects in Kenya, significantly boosting investor confidence in the sector.
The agency, which is the project guarantee fund of the World Bank— issued a $179.64 million (Sh23.21 billion) to cover Koko Networks’ expansion in Kenya in March this year, two months after it agreed to provide a $49.5 million (Sh6.39 billion) guarantee for the solar and geothermal power projects owned by British firm Globeleq.
