European Lenders to Give Kenya 200 Million Euros for Bus System

(Bloomberg) -- The European Investment Bank, European Union and the French development agency plan to avail as much as 200 million euros ($221.4 million) for a proposed bus rapid transit system in Kenya.

The EIB will lend the East African nation between 50 million euros and 100 million euros, while the European Union will provide a grant of 45 million euros, according to Catherine Collin, the EIB’s regional representative. Agence Francaise de Developpement will lend the balance.

The EIB also plans to give the pan-African Trade and Development Bank 100 million euros credit to support small and medium-sized enterprises, climate action projects and renewable energy in East Africa, according to Robert Schofield, head of its financial sector division.

It will also provide two Ugandan banks with 30 million euros for on-lending to female entrepreneurs and small companies, Schofield said.

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