This archive report was first published on 29 November 2019.
The European Union has awarded a Sh460 million grant to eight Kenyan agribusinesses to support over 50,000 small farmers and create 3,800 jobs.
The grant, which is part of the AgriFI Kenya Challenge Fund, will help the agribusinesses in the production and processing of coconut, sorghum, soya, mango, and dairy value chains.
The initiative, which is also sponsored by SlovakAid, aims to support productive and market-integrated smallholder agriculture through the provision of financial support.
Agriculture PS Hamadi Boga welcomed the initiative, saying it will help bridge the financing gap in the agriculture sector and involve the private sector in supporting agriculture.
European Union ambassador Simon Mordue acknowledged the EU's longstanding relationship with Kenya and its commitment to furthering the country's development agenda.
Self Help Africa's Kenya country director Rebecca Amukhoye thanked the Ministry of Agriculture for supporting the implementation of the programme and recognised the significant financial contribution made by EU and SlovakAid.
The AgriFI Kenya Challenge Fund initiative is part of the wider AgriFI programme funded under the 11th European Development Fund (EDF) to unlock, accelerate, and leverage investments within value chains.
The European Investment Bank (EIB) is also providing long-term financing through Equity Bank for on-lending to eligible food and agriculture sector projects.
Published on November 29, 2019.
