The Lower Eastern Times Opening The Third Eye
Related Articles
Family Bank has partnered with EIB Global—the development investment arm of the European Investment Bank—to roll out a Sh14.7 billion credit facility aimed at supporting businesses run by women and youth in Kenya.
Click here to join our WhatsApp Channel
Under the agreement, EIB Global will provide €50 million in long-term financing, which Family Bank has committed to match with an equivalent amount.
The financing will primarily benefit small and medium-sized enterprises (SMEs) and mid-sized firms, with a particular focus on those involved in agriculture and trade.
Launched during the EU-Kenya Business Forum held in Nairobi, the initiative stipulates that at least half of the funds will go to women-led businesses, while 30 percent will be allocated to youth-run enterprises.
This funding comes at a time when many SMEs in Kenya—especially those led by women and young entrepreneurs—continue to struggle with limited access to affordable credit from traditional financial institutions.
Click Here To Subscribe To Our YouTube Channel
In addition to the credit facility, EIB Global will also provide technical support to enhance Family Bank’s gender inclusion efforts and product development. This includes support for potential certification under the 2X Challenge, an international initiative aimed at promoting investments that benefit women.
This financing deal marks the fourth collaboration between Family Bank and EIB Global and aligns with broader EU goals under its Global Gateway strategy and the Investing in Young Businesses in Africa (IYBA) program.
Experts suggest that the facility could inject critical funding into an essential segment of Kenya’s economy, but note that its success will depend on how well it reaches and supports the intended beneficiaries beyond just providing capital.
