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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya green investment portfolio to hit
U.S. $900 million dollars in next decade  

NAIROBI (Xinhua) -- The investment portfolio required to accelerate Kenya’s attainment of its ambitious green agenda is likely to hit 90.58 billion Kenyan shillings (about 900 million U.S. dollars) in the next decade, a study released on Tuesday showed.

According to Demand Study on Green Finance commissioned by Kenya Green Bond Program in partnership with World Wildlife Fund (WWF) and Kenya Bankers Association, Kenya can tap into international and domestic capital markets to finance green projects and assets.

“We need to harness private financial flows and drive green growth in the country. Green investments have enormous returns on the economy and the environment,” said Jackson Kiplagat, acting conservation director at WWF-Kenya.

The assessment on green investments opportunities in Kenya focused on three key sectors including agriculture, manufacturing and transport.

It also identified barriers to green financing in the country and proposed interventions that can be rolled out to help companies invest in bankable projects that can hasten low carbon development.

           

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