KCB nets $96.9M Green Climate Fund backing
KCB Bank Kenya secured $96.9 million from the Green Climate Fund to lend to MSMEs and farmers for climate‑smart agriculture and clean energy — a notable push for blended climate financing in emerging markets. The deal highlights demand for bankable, locally‑targeted green credit lines that combine development capital with commercial scale. (x.com/MwangoCapital/status/2038466405486707037)
GCF project FP292 was approved by the Fund on 28 March 2026 with KCB Bank Kenya designated as both the Accredited Entity and the Executing Entity. (greenclimate.fund) The GCF contribution to the programme is split into a $8,332,000 grant, a $15,000,000 loan and a $20,311,200 guarantee (total GCF financing $43,643,200), alongside co‑financing that includes a $50,000,000 loan and total co‑financing of $53,263,000. (greenclimate.fund) The programme is structured around three components: a Climate‑Smart Technology lending facility, strengthening KCB’s climate impact and risk‑assessment frameworks and capacity building for loan officers, suppliers and beneficiaries. (greenclimate.fund) GCF documents state the intervention targets direct benefits to 112,145 people and indirect reach of 823,547 people, concentrating roughly 90% of programme resources in the 34 most climate‑vulnerable Kenyan counties. (greenclimate.fund) KCB describes the CST programme as deploying flexible credit products, mixed‑finance structures and digital lending platforms with a sector mix emphasizing solar power, clean cooking, climate‑smart agriculture, waste management/circular economy and energy‑efficiency measures. (ke.kcbgroup.com) KCB Group CEO Paul Russo framed the facility as targeting MSMEs and smallholder farmers to scale climate finance and build resilience, while GCF director Catherine Koffman highlighted the operation’s role in crowding in private capital and de‑risking investments. (ke.kcbgroup.com) The GCF entry for FP292 records the approval at Board meeting B.44 and links the programme to Kenya’s NDCs, National Adaptation Plan and Green Economy Strategy as part of its alignment rationale. (greenclimate.fund)
