World Bank loans Kenya Ksh.16.7 billion for climate change mitigation
The World Bank Group has approved a Ksh.16.7 billion ($150 million) loan to Kenya to address climate related risks.
The credit line from the International Development Association (IDA) is geared at supporting community identified and locally-led climate resilience projects in all rural wards in Kenya.
At the national level, the program is expected to strengthen the national government’s capacity to support county governments’ actions, enhance the collaboration between national entities on climate change and facilitate national oversight of the program.
The program is also expected to address gender and other equity dimensions alongside accelerating the use of participatory planning processes, innovation and climate science.
The financiang is expected to be complimented by a grant of Ksh.2.4 billion ($21.4 million) from the Social Sustainability Initiative for all Umbrella Multi-Donor Trust Fund which has resources from the government’s of Denmark and Sweden.
“Kenya has demonstrated leadership in establishing a policy framework to manage climate risk though climate action is still underfunded.” said Keith Hansen, World Bank Country Director for Kenya.
“This financing will support the Government of Kenya meet its climate commitments to increase financing for climate action, and particularly ensure climate financing and actions reach local communities.”
The disbursement comes ahead of the United Nations Climate Change Conference known as COP26 which begins this Sunday in Glasgow, Scotland and is expected to accelerates actions towards the reversal of climate change.