PROJECT

Projects

Summary of Investment Information

Project Number

43739

Company Name

KCB BANK KENYA LIMITED

Date SPI Disclosed

Nov 11, 2020

Country

Kenya

Region

Africa

Projected Board Date

Sep 24, 2020

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 9, 2021

Department

CF3S3 - Regional Industry - FIG ME & Africa/FIG Africa Porf.Est

Industry

Financial Markets

Previous Events

Approved : Sep 24, 2020
Signed : Nov 13, 2020
Invested : Dec 3, 2020

Sector

Commercial Banking - General

Project Description

The project consists of an investment of up to US$150 million in KCB Bank Kenya Limited (“KCBK” or the “Bank”). The investment will be in the form of a Basel 2 Tier 2 qualifying subordinated loan to enhance the Bank’s capital position. The proceeds will support the growth of the Bank’s sustainable climate finance portfolio and scale-up lending to micro, small and medium enterprises (“MSMEs”), including women-owned SMEs (“WSMEs”).

Associated Advisory Engagement

The investment will help KCBK build its capacity to develop a green asset portfolio to boost the nascent climate finance market. IFC will also support the establishment of best practice “green” standards.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation