Kenya, located in East Africa and covering a total land area of 582,646 square kilometers (sq km), shares borders with Ethiopia, South Sudan, Uganda, Tanzania, and the Indian Ocean. The country's vulnerability to recurrent floods and droughts is due to its extensive land use. Its highlands are home to the majority of the population and significant farm lands, while its nature-based tourism industry is also a major land user.
INVESTING IN KENYA
CIF's investments in Kenya are through its Scaling up Renewable Energy Program (SREP) and Clean Technology Fund (CTF).Kenya's $60 million investment programming from the SREP is particularly focused on de-risking geothermal power, through concessional lending by removing some of the technical capacity, economic, financial, and social constraints. For example, the SREP funding for the Menegai project is covering the riskiest and most critical stage of the development —exploration drilling to prove the availability of steam resources. By absorbing risks that other financiers are unable or unwilling to bear,mobilizing the co-financing of multilateral development banks, and attracting other investors, SREP is helping the project to advance. Through dedicated private sector programming, CTF invested $30 million to ramp up innovative investments in renewable energy technologies in Kenya.
Kenya Projects
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Climate action and development are inextricably linked. This link has been confirmed by a new independent evaluation that assesses and analyzes how climate finance programs can lead to broader social, economic, environmental, and market development impacts.
May 03, 2023
09:00 AM - 10:30 AM EST
