PROJECT

Projects

Summary of Investment Information

Project Number

46587

Company Name

KCB BANK KENYA LIMITED

Date SPI Disclosed

Aug 31, 2022

Country

Kenya

Region

Africa

Projected Board Date

Jun 29, 2022

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Sep 21, 2022

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jun 29, 2022
Signed : Aug 29, 2022
Invested : Sep 19, 2022

Sector

Commercial Banking - General

Project Description

The proposed project consists of a US$ 150 million senior unsecured loan to KCB Bank Kenya Limited (“KCBK” or the “Bank”). The proceeds will support the growth of the Bank’s climate finance portfolio.

Associated Advisory Engagement

The Project builds on prior and new Climate Advisory Services (AS) engagements, which serve as an anchor for the Bank’s strategic commitment to deepen its participation in this under-served segment. The scope of IFC’s Climate AS will include input to KCBK’s climate finance strategy, knowledge and capacity building and climate risk assessment and reporting.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation