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KCB secures Sh18 billion IFC credit to fund green projects

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KCB Group chief executive officer Paul Russo during the lender's announcement of half year 2022 financial results in Nairobi on August 24, 2022. PHOTO | DIANA NGILA | NMG

By  Charles Mwaniki

Business Reporter

Nation Media Group

KCB has obtained a loan of $150 million (Sh18 billion) from the International Finance Corporation (IFC) to support its lending to eco-friendly ventures.

IFC disclosures on the new credit line say the new facility will have a maturity of seven years, with a grace period of two years, and will also include the institution providing back office support to KCB on green finance strategy.

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