This Project is expected to have a highly developmental impact by expanding the availability of capital to small- and mediumsized enterprises (SMEs) operating in the agribusiness sector in Kenya. According to the latest IFC Enterprise Survey for Kenya, only an estimated 23% of small enterprises, and 27% of medium-sized enterprises, have access to bank
finance. The IFC quantifies the credit gap for both formal and informal SMEs in Sub-Saharan Africa as between $140 billion and $170 billion. Through a grant from the
USDA, Global Communities will provide technical assistance to I&M Bank Kenya Limited as well as downstream agribusiness SMEs. This will increase the Bank’s capacity to target and serve agribusiness SMEs and improve their financial sustainability and operational performance. The Project supports Kenya’s Global Food Security Strategy Country Plan with Feed the Future’s Program from USAID, which calls for sustainably reducing hunger, malnutrition and poverty in the agricultural sector.
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