Family Bank Commits $53.1 Million to Finance Agribusiness
Family Bank has announced that it will release Ksh. 6 billion to be extended as affordable credit to agribusinesses across 17 counties through the USAID’s Pay for Performance initiative under the Kenya Investment Mechanism program.
This targets businesses across the agricultural value chains such as dairy, horticulture, livestock, and energy sectors, among others, for the next one year in Homa Bay, Migori, Kisii, Kisumu, Siaya, Kakamega, Bungoma, Busia, Vihiga, Kitui, Makueni, Taita Taveta, Isiolo, Marsabit, Turkana, Garissa and Wajir counties and their environs.
“Despite the agricultural sector being a great contributor to the country’s economy, the challenges faced by the sector continue to hinder growth. As a bank, we recognize the finance need for agribusinesses to scale climate-smart agriculture technologies to enhance the climate resilience for agricultural value chains,” said Family Bank Chief Executive Officer Rebecca Mbithi.
Photo courtesy of C.Schubert.
Source: KBC (link opens in a new window)