Co-op Bank secures $10m for lending to agribusinesses

Co-operative Bank has secured $10 million financing from the eco.business Fund, the impact investment sub-fund for sub-Saharan Africa, for on-lending to sustainable agribusinesses.

The fund’s first ever investment in Kenya provides the much-needed financing for businesses to enhance sustainable measures in their agricultural practices, particularly important in light of the challenging operating environment created by the Covid-19 crisis.

The partnership also hopes to finance green measures such as solar and hydroelectric installations for tea factories that reduce reliance on wood as a source of fuel and cold storage solutions that reduce post-harvest losses.

This is expected to boost sustainable production practices and conserve the unique ecological landscape of the country.

Read more: The East African