Kenya Commercial Bank (KCB) Foundation has partnered with United States Agency for International Development (USAID) to mobilize up to kSh100 million in financing for livestock farmers in Kenya’s arid and semi-arid lands.
The two-year partnership will see at least 50 livestock cooperatives and farmers’ groups receive technical support to increase their productivity.
The first year of the partnership will see KCB train bank staff on livestock financing which is expected to grow to KSh500 million.
KCB Head of Foundation Caroline Wanjeri says the training of KCB staff on livestock financing will enable the bank to identify better ways to support smallholder farmers, who would otherwise be considered high risk.
On her part, Kenya Investment Mechanism’s Deputy Chief of Party Dr. Grace Mwai says the partnership will go a long way in unlocking financing for the livestock sector in the meat, milk, honey, and fish value chains.
Kenya Investment Mechanism is a five-year USAID project aimed at unlocking private finance and investment for key sectors of Kenya’s economy, including agriculture.
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