Kenya: IFC to invest €230 million in private companies

Sep 12, 2014

The International Finance Corporation (IFC) has agreed to invest 26.5 billion Shillings (€230.7 million) to support Kenyan businesses for the fiscal year that started on July 1, 2014.

The International Finance Corporation (IFC) has agreed to invest 26.5 billion Shillings (€230.7 million) to support Kenyan businesses for the fiscal year that started on July 1, 2014.


The sectors targeted are agriculture, infrastructure, health, education and in particular,
financial services.


"We support financial sectors, as they own long-term liquidity, in order to support small and medium-sized businesses in an appropriate and sustainable way", said Oumar Seydi, IFC Director for East and Southern Africa, quoted by the news agency Ecofin.


He added that Kenya
accounts for
a large number of solid and well-prepared companies and encourages those who are seeking funding to send their applications.


During its last fiscal year, IFC provided billions of dollars of new financing and investment mobilisation and delivered wide-ranging advisory services in sub-Saharan Africa during its most recent fiscal year. IFC’s activities impacted 1.1 million farmers, provided $17 billion of financing to entrepreneurs, delivered health services to a million patients and improved quality of education for 117,000 students, according to the institution.

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