Kenya Secures Ksh.16.4B Loan for Environmental Conservation Drive
Kenya has signed a concessional loan worth $126.8 million (approximately Ksh.16.39 billion) from the International Fund for Agricultural Development (IFAD) to support a new program aimed at improving rural livelihoods and conserving natural resources.
Treasury Cabinet Secretary John Mbadi announced the funding on Monday, stating that the Integrated Natural Resources Management Programme (INReMP) will address critical challenges including environmental degradation, climate change, and the decline of rural livelihoods.
The loan agreement, signed by Mbadi and IFAD’s Regional Director Sara Mbago-Bhunu, is on blend terms—featuring a 1.41% interest rate, 1.39% service charge, a 25-year repayment period, and a five-year grace period.
According to the National Treasury, INReMP will be implemented in ten counties: Elgeyo Marakwet, West Pokot, Trans Nzoia, Uasin Gishu, Nandi, Kakamega, Kericho, Kisumu, Homa Bay, and Migori.
“It will focus on sustainable resource management, strengthening rural institutions, and improving household incomes through environmentally friendly livelihood activities,” read a statement from the Treasury.
The funding is part of IFAD’s broader commitment to alleviating poverty and hunger in rural communities of developing countries. In Kenya, the organization already supports four ongoing projects in agriculture, aquaculture, livestock, and rural financial inclusion.
The new program complements President William Ruto’s ongoing environmental conservation agenda, which includes tree planting, forest and wildlife protection, river conservation, and international climate diplomacy.
Launched in 2022, the agenda features an ambitious plan to plant 15 billion trees, restore over 5 million hectares of deforested land, and mobilize climate finance through partnerships with global stakeholders.
In other news: Lawyers File Petition for National Assembly to Amend Computer Misuse and Cybercrimes Act
Kenya Secures Ksh.16.4B Loan for Environmental Conservation Drive