Kenya has received a shot in the arm after the UK announced funding to kick-start the development of fifty green investment projects across Kenya.
The special projects will be funded to the tune of Ksh1.1 billion (£6.6 million).
The funding was guided by the County Green Finance Assessment, which was launched in Nairobi on Wednesday April 24.
According to the UK government, the funding will go a long way in supporting healthcare, water accessibility and infrastructure.
These green investments could also create jobs and grow local economies, whilst simultaneously protecting Kenya’s incredible biodiversity and unique landscapes.
It will also support the development of new financial solutions to increase access to affordable, green, quality, housing – including associated infrastructure and services.
The UK will work with 10 counties based on financial performance, credit risk, the availability of green investment opportunities and the counties’ abilities to manage green finance.
The 10 counties included are Embu, Kirinyaga, Kisumu, Laikipia, Nairobi, Makueni, Nandi, Taita-Taveta, Vihiga, and Wahir.
“As flooding causes disruption across Kenya, we can see clearly how the countries that are least responsible for climate change are the worst affected. We admire Kenya’s impressive climate credentials and are proud of our climate partnerships.
This report and funding are long-term commitments to find quality, long-term solutions. I encourage countries to use the report to continue along the path of green growth, so together we can protect our people, planet, and prosperity. We go far when we go together,” said Leigh Stubblefield, Development Director at the British High Commission Nairobi.
“The assessment of the green opportunity in counties illuminates the immense natural asset base that needs to be managed, protected and preserved. It is also clear that core government services such as water, energy, waste management and transport provide valuable avenues for green investment possibilities where there is growing demand,” Tamara Cook, CEO at FSD Kenya highlighted.
