The European Investment Bank (EIB) and the Central Bank of Kenya on Thursday, December 14 launched a climate finance initiative to enhance climate-related investments. Set for two years, the project will be implemented under EIB’s Greening Financial Systems programme, financed by the International Climate Initiative Fund (IKI Fund).
EIB Vice President Thomas Östros commenting on the agreement promised that the company was working towards understanding barriers holding back green financing in Kenya.
“As highlighted by world leaders at COP 28, scaling up climate finance is essential to mobilise new investment to boost the green transition and help reduce the impact of climate change,” Östros stated.
Central Bank of Kenya governor Dr. Kamau Thugge also noted that the institution is committed to the greening of the country’s financial sector.
“Considerable progress has been made by banks in implementing the Guidance, but more remains to be done,’’ he highlighted.