This archive report was first published on 18 June 2020.
On June 17, 2020, KCB Bank Kenya announced a KShs.2 billion fund to support thousands of Micro, Small and Medium Enterprises (MSMEs) in Laikipia County, Kenya, to help them weather the COVID-19 crisis.
The fund is a result of a partnership agreement between the County Government of Laikipia and KCB Bank Kenya, signed on Wednesday morning.
Under the arrangement, KCB will provide affordable facilities to enterprises and cooperative societies whose businesses have been affected by the outbreak of the pandemic.
Laikipia County Governor Hon. Ndiritu Muriithi welcomed the move, terming it as a big boost that will stimulate economic recovery in Laikipia County.
“We are excited about this partnership that will unlock the much-needed credit to businesses enabling them to have sufficient liquidity to continue their activities,” the Governor said.
County Government of Laikipia will develop policies and structures that support the utilization and sustainability of the fund and also facilitate capacity building for entrepreneurs.
“By providing loans to small businesses, we will be promoting inclusive and sustainable economic growth and employment during this crisis” he added.
