Finance

The UK grants a $41mln loan for green projects in Kenya

The UK grants a $41mln loan for green projects in Kenya
Friday, 11 February 2022 12:58

Kenya, like virtually every country in the world, is being hit hard by climate change. To mitigate the effects of a severe drought on its agricultural sector, the country is now focusing on implementing green initiatives. Partners are supporting this strategy.

The U.K. announced the disbursement of $41.3 million to help Kenya rebuild its forests and achieve a full transition to renewable energy by 2030. The Emerging Africa Infrastructure Fund (EAIF), World Wide Fund for Nature (WWF), and the Eliud Kipchoge Foundation also contributed to the loan.

“This project […] will help Kenya achieve its vision of 10% tree cover by 2030, and provide new green jobs for local people,” said Mike Foster, head of mutual prosperity and climate change at the British High Commission in Nairobi.

The Kenyan government has made reforestation one of its priority climate-related initiatives. According to Global Forest Watch, the country has lost more than 11% of its forest cover since 2000. With climate change affecting local agriculture, the government is working towards reducing emissions to relieve the sector. The UK investment is expected to benefit more than 1,000 people living in the Kaptagat forest landscape.

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