I&M Bank And Sida Partner To Expand Green Lending In Kenya
I&M Bank Limited has partnered with the Swedish International Development Cooperation Agency (Sida) to unlock up to USD 30 million in green financing. The initiative will support climate-aligned projects across Kenya.
The agreement includes a USD 15 million guarantee from Sida. It will run for eight years and cover 50 percent of the risk. As a result, the Bank can increase lending to businesses in green sectors.
The partnership supports I&M Bank’s sustainability strategy under iMara 3.0. It also strengthens efforts to finance projects that promote climate resilience and low-carbon growth.
Speaking during the signing, Shameer Patel said the partnership marks a major step for green finance in Kenya. He noted that the facility will help the Bank fund businesses building a sustainable economy.
The financing will target key sectors. These include renewable energy, clean transport, green buildings, and sustainable water management. It will also support the circular economy and eco-efficient production.
I&M Bank And Sida Partner To Expand Green Lending In Kenya
Driving Kenya’s Green Transition Through Partnerships
Marie Ottosson from the Embassy of Sweden said the partnership will reduce financial risk for the Bank. Therefore, it will help mobilise private capital for climate projects.
She added that the initiative supports Kenya’s climate goals under the Paris Agreement. It also promotes investments that deliver environmental and social impact.
I&M Bank will apply the Green Loan Principles by the International Capital Market Association. These standards guide how funds are used, managed, and reported.
The partnership comes as green finance gains momentum in Kenya. The Kenya Green Finance Taxonomy now provides clearer guidelines for climate-aligned investments.
By expanding its green lending, I&M Bank strengthens its role in financing sustainable growth. The Bank continues to support businesses shaping Kenya’s future.
