The National Bank of Kenya (NBK), in partnership with Aqua for All, has launched a SH5 billion water, sanitation and hygiene funding program to support companies that deal with water, sanitary and hygiene products and services. services have to do.
The groups expected to benefit from the fund include micro, small and medium-sized enterprises, corporations, public and private institutions, vendors, technology providers and suppliers of products and services within the water, sanitation and hygiene value chain for last mile connectivity for communities and individuals.
The new financing program consisting of Jenga Biashara Loan and Infrastructure Project Loan aims to meet the financial needs, efficiency, sustainability and growth of businesses, institutions and communities in the water sector.
During the introduction, Dr. Andrew Tuimur, Principal Administrative Secretary for the Department of Water, Sanitation and Irrigation, said the state and county governments will continue to promote good corporate standards in water sanitation programs (WSPs) and ensure the creation of a regulatory environment that supports commercial finance providers.
The CAS reaffirmed the Ministry’s commitment to a multi-stakeholder partnership for water resource management and service delivery in Kenya. In his remarks, NBK Managing Director Paul Russo reiterated the bank’s commitment to provide tailor-made products and services for a wide range of SME needs in order to ensure long-term growth.
The MD said the partnership came at an opportune time as Kenyans, and especially the SMB sector, continue to face difficult times with the ongoing Covid-19 pandemic.
“As a bank, we are constantly looking for ways to support the long-term growth of SMEs in all sectors of the economy,” said Russo.
He urged all SMEs in the water, sanitation and hygiene sectors to take advantage of the opportunities offered by the program to help them fill the financial gaps in their operations.
In her address, the managing director of Aqua for All, Josien Sluijs, said through the partnership and shared vision with NBK that they will be able to create a conducive environment for companies, institutions and communities in the water sector to provide sustainable water for all people – to provide sanitation and hygiene services wherever they operate.
The NBK water, sanitation and hygiene financing program offers flexible financing solutions under two different facilities, including working capital loans called âJenga Biashara Loanâ, aimed at informal and semi-formal entrepreneurs who supply water, sanitation and hygiene products and services in urban and rural areas.
The infrastructure project loans target household connections, smart metering, solar projects and other assets to increase efficiency.
By Hamdi Mohamud