The National Bank of Kenya (NBK) is about to roll out a fundraising program that aims to support businesses providing water, sanitation and hygiene services in Kenya.
The Ministry of Water, Sanitation and Irrigation made the announcement and said the bank will launch the program with funding of US $ 45.2 million that will be made available to stakeholders in the project. Beneficiaries of the National Bank of Kenya (NBK) funding program include micro, small and medium enterprises (MSMEs), corporations, public and private entities, vendors, technology providers, and product and service providers in the water, sanitation and hygiene value chain. to the connectivity of remote areas.
READ:Kenya‘s Nandi Hills Water and Sanitation Project to be Inaugurated in July 2022
Universal water coverage
“It will provide flexible financing solutions to the investment needs of Water Sanitation Programs (WSP) to accelerate the commercial viability and social impact of the water economy under two different facilities.” called “Jenga Biashara loan” and “infrastructure project loans” which target household hookups, smart meter installation, solar projects and other efficiency improvement assets, “said the Ministry.
The program will also create more sustainable sources of capital for infrastructure finance and improve governance standards and financial performance of water service providers. NBK implements the financing program in partnership with Aqua for All.
By improving water, sanitation and hygiene services, the Kenyan government is also aiming to accelerate the fight against the Covid 19 pandemic which is affecting this East African country. Regarding the “water” component, the Kenyan Ministry of Water, Sanitation and Irrigation aims to achieve universal coverage by 2030.