A new financing program aims to support companies that provide water, sanitation and hygiene services in Kenya. The program is being initiated by the National Bank of Kenya (NBK) with funding of 5 billion Kenyan shillings (over $45.2 million).
Beneficiaries of the National Bank of Kenya (NBK) financing program include micro, small and medium enterprises (MSMEs), corporations, public and private entities, vendors, technology providers, and suppliers of products and services in the water, sanitation and hygiene value chain to remote area connectivity. The program has been operational since September 30th, 2021.
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NBK is making Kshs 5 billion, more than $45.2 million, available to these stakeholders. “It will provide flexible financing solutions to the investment needs of water sanitation programs (WSPs) to accelerate the commercial viability and social impact of the water economy under two different facilities called “Jenga Biashara Loan” and “Infrastructure Project Loans” that target household connections, installation of smart meters, solar projects and other efficiency improvement assets,” says the Kenyan Ministry of Water, Sanitation and Irrigation.
Achieving universal water coverage by 2030
The program will also create more sustainable sources of capital for infrastructure financing and improve the governance standards and financial performance of water service providers. NBK is implementing the financing program in partnership with Aqua for All.
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By improving water, sanitation, and hygiene services, the Kenyan government also aims to accelerate the fight against the Covid 19 pandemic affecting the East African country. Regarding the “water” component, the Kenyan Ministry of Water, Sanitation and Irrigation aims to achieve universal coverage by 2030.
Inès Magoum
