European lenders to agree $200m loans for Kenyan bus project
The European Investment Bank, European Union and the Agence Francaise de Developpement are set to lend up to €200 million ($221.4 million) for a proposed bus rapid transit system in Kenya.
The EIB will lend the East African nation between €50 million and €100 million, while the European Union will provide a grant of €45 million. Agence Francaise de Developpement will lend the balance.
The EIB also plans to give the pan-African Trade and Development Bank €100 million credit to support small and medium-sized enterprises, climate action projects and renewable energy in East Africa, according to Robert Schofield, head of its financial sector division. It will also provide two Ugandan banks with €30 million for on-lending to female entrepreneurs and small companies.
