The World Bank has committed $43 million (Sh5.5 billion) to a new Green Investment Fund in Kenya, aiming to boost financing for local Small and Medium-sized Enterprises (SMEs) engaged in climate-friendly businesses.

• The fund, managed in collaboration with the Kenya Development Corporation (KDC), will support sectors such as electric mobility, green buildings, sustainable agriculture, and waste management.
• The initiative falls under Component 3 of the Kenya Jobs and Economic Transformation (KJET) Project and the Supporting Access to Finance and Enterprise Recovery (SAFER) Project.
• World Bank Regional Director Hassan Zaman and Kenya Development Corporation Director General Norah Ratemo discussed the fund's implementation and governance, emphasizing the selection of an independent fund manager.
• This blended finance approach seeks to reduce risk for private investors and provide affordable capital for firms investing in climate-aligned technologies.