Co-operative Bank of Kenya and the European Bank for Reconstruction and Development (EBRD) have signed a Sh13 billion ($100 million) financing deal to boost foreign currency access for Kenyan businesses.

• The initial Sh6.5 billion ($50 million) tranche utilized a cross-currency swap, marking the first use of KESONIA as a benchmark rate.
• Key organizations involved are Co-operative Bank of Kenya and EBRD.
• The financing targets businesses in sectors like manufacturing and agriculture, enhancing access to dollar-denominated loans and trade finance.