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Kenya Unveils Investment Bank for Green Projects

The Treasury of Kenya has announced plans to set up an investment bank to increase commercial lending to environmentally friendly projects. In its draft National Green Fiscal Incentives Policy Framework, the Treasury said that the planned bank is part of efforts to steer Kenya’s economy onto a low-carbon, climate-resilient, green development pathway. The bank, which will be known as the Kenya Green Investment Bank (KeGIB) looks to incentivise private sector investments in green projects, including “absorbing part of the risks” linked to environmentally friendly projects. The Kenyan Government will be responsible for setting up a green investment register – a database of key national green investments portfolio – to direct investment to products and projects that have a positive environmental impact. The Treasury said: “The [KeGIB] will particularly focus on addressing the perception and/or reality that the capital costs and risks of green investments are too high, and the returns too low.” 

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