NBK, to finance water and sanitation service providers in Nairobi, Kenya

The National Bank of Kenya (NBK) is set to roll out a financing program that aims to support companies that provide water, sanitation and hygiene services in Kenya.

Ministry of Water, Sanitation and Irrigation made the announcement and said the bank will initiate the program with a US $45.2M funding which will be available to the project’s stakeholders. Beneficiaries of the National Bank of Kenya (NBK) financing program include micro, small and medium enterprises (MSMEs), corporations, public and private entities, vendors, technology providers, and suppliers of products and services in the water, sanitation and hygiene value chain to remote area connectivity.

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Universal water coverage 

“It will provide flexible financing solutions to the investment needs of water sanitation programs (WSPs) to accelerate the commercial viability and social impact of the water economy under two different facilities called “Jenga Biashara Loan” and “Infrastructure Project Loans” that target household connections, installation of smart meters, solar projects and other efficiency improvement assets,” said the ministry.

The program will also create more sustainable sources of capital for infrastructure financing and improve the governance standards and financial performance of water service providers. NBK is implementing the financing program in partnership with Aqua for All.

By improving water, sanitation, and hygiene services, the Kenyan government also aims to accelerate the fight against the Covid 19 pandemic affecting the East African country. Regarding the “water” component, the Kenyan Ministry of Water, Sanitation and Irrigation aims to achieve universal coverage by 2030.