National Bank of Kenya in Sh5b water sector funding plan
National Bank of Kenya (NBK) has partnered with Aqua for All, a non-profit organisation, to launch a Sh5 billion financing programme for players in the water sector.
The programme will support various players within the water, sanitation and hygiene value chain, among them micro, small and medium enterprises.
Paul Russo, NBK managing director said the programme will provide flexible financing solutions to cater for the investment needs of SMEs, in a bid to accelerate the commercial viability and social impact of the water economy.
“This partnership comes at an opportune time as Kenyans and especially the SME sector continue to face very difficult times with the ongoing pandemic,” he said during the programme launch yesterday.
With this new product, he added, they seek to scale up the SMES in the water, sanitation and hygiene economy for sustainable water services.
“As a bank, we are constantly looking for opportunities to support long-term growth to SMEs in all sectors of the economy,” Russo added.
He called on all SMEs in the water, sanitation and hygiene sector to take advantage of the opportunities presented under this programme to help them address the financial gaps in their operations.
Russo said Aqua for All will employ its global expertise to support the development of innovative and viable products, funding and delivery solution models for the water sector through this programme.
He reiterated the bank’s commitment to provide tailor made products and services to a variety of SMEs needs to ensure long term growth.
The programme will offer flexible financing solutions under two different facilities including working capital loans dubbed “Jenga Biashara Loan” that targets informal/semi-formal entrepreneurs providing Water, Sanitation and Hygiene products/services in urban and rural areas,
Other facility, Infrastructure Project Loans, targets household connections, smart metering, solar projects and other efficiency improvement assets.
Josien Sluijs, the Aqua for All MD said through the partnership and shared vision with NBK, they will create a conducive environment for water sector enterprises, institutions and communities to provide sustainable Water, Sanitation and Hygiene services to all people.