IFC has announced a USD100 million subordinated loan to Equity Bank Kenya to grow its lending operations Kenya.
The World Bank Group member’s loan facility will assist Equity Bank to increase its capital base and expand its lending programme to small and medium enterprises and climate finance operations that support renewable energy, green buildings, energy efficiency, and climate-smart agricultural projects in Kenya.
In July last year, Equity Bank and Orb Energy partnered to offer tailor-made loans to enable homes, institutions and industries acquire solar water heating systems.
Through the loans, Kenyans would be able to acquire solar water heaters that will see them save up to 60 per cent of their energy costs.
Source: The Exchange