KENYA: NBK finances water and sanitation service providers in Nairobi

By - Published on / Modified on

KENYA: NBK finances water and sanitation service providers in Nairobi©Kenyan Ministry of Water, Sanitation and Irrigation

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.

Read also- DRINKING WATER: major African programmes that are making a difference locally

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.

Read also – Urban sanitation, a major challenge for sustainable cities in Africa

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

More on the same theme

More on the same area

We respect your privacy

When you browse on this site, cookies and other technologies collect data to enhance your experience and personalize the content you see. Visit our Privacy Policy to learn more. By clicking "Accept", you agree to this use of cookies and data.

Newsletter AFRIK 21