NAIROBI,Kenya, Sep 4- Kenya’s banking sector is set to play a bigger role in financing climate and biodiversity projects under a new five-year partnership aimed at turning more green businesses into investment-ready ventures. The Global Green Growth Institute (GGGI) and the Kenya Bankers Association (KBA) on Thursday signed a Memorandum of Understanding (MoU) to strengthen sustainable finance, green investment and inclusive green growth in Kenya. The partnership seeks to address a persistent financing gap in which businesses struggle to secure funding for green projects while lenders say they lack sufficiently bankable opportunities. “For too long, entrepreneurs have said banks are not lending, while banks have said there are not enough bankable green projects. This partnership is about closing that gap,” said Nagnouma Kone, GGGI’s Manager for Africa Strategy and Partnerships and Head of Kenya Office. “We are bringing together SMEs, financial institutions, and public sector actors to move beyond discussion and create real transactions that accelerate Kenya’s green transition.” The agreement was signed by Kone and KBA Chief Executive Officer Raimond Molenje during the launch of the International Climate Initiative (IKI)-funded SYMBIOTIC Project in Nairobi. The collaboration comes as Kenya seeks to implement its biodiversity commitments while increasing private-sector participati...
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