KDC World Bank Eyes green fund to spur development
Kenya Development Corporation Ltd (KDC) is a Development Finance Institution which was established in 2020 to merge the operations of Industrial and Commercial Development Corporation (ICDC), Tourism Finance Corporation (TFC) and IDB Capital Limited.
KDC is mandated to play a catalytic role in Kenya’s socio-economic development by providing long-term financing and other financial, investment and business advisory services.
Therefore, KDC plays an important role in addressing critical gaps for long-term funding that cannot be met by commercial banks in target sectors in Kenya and elsewhere.
Dr. Hon. Faith Mwaura, a board Member at KDC shares as follows:
“Kenya Development Corporation in partnership with the World Bank is fast tracking its efforts to set up a Green Fund that will accelerate the growth of investments and businesses in Environmental and Social sector.”
A green fund is a mutual fund or another investment vehicle that will only invest in companies that are deemed socially conscious or directly promote environmental responsibility.
A green fund can come in the form of a focused investment vehicle for companies engaged in environmentally supportive businesses, such as alternative energy, green transport, water and waste management, and sustainable living.
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