I&M Bank has partnered with the Swedish International Development Cooperation Agency to launch a $30 million green finance facility. This facility seeks to support sustainable and climate-aligned projects in Kenya.
The partnership is anchored on a $15 million guarantee from Sida which is structured over eight years with a 50 percent risk-sharing mechanism. The arrangement is expected to enable the bank to expand lending to sectors that are typically considered high-risk.
“This partnership is a defining moment for I&M Bank and for Kenya’s green finance story,” said Shameer Patel, Director of Retail and Business Banking at I&M Bank. “We are backing our sustainability commitments with real capital and a credible international partner.”
The facility will support projects across key sectors including renewable energy, energy efficiency, clean transportation, green buildings, circular economy initiatives and sustainable water and land management.
According to Marie Ottosson, Head of Development Cooperation at the Embassy of Sweden in Kenya, the guarantee is designed to reduce financial risk and mobilise private capital toward climate-focused investments.
The initiative aligns with Kenya’s climate commitments under the Paris Agreement and comes as the country continues to strengthen its green finance framework, including the adoption of the Kenya Green Finance Taxonomy.
Under the partnership, I&M Bank will apply internationally recognised Green Loan Principles to guide the allocation and management of funds.
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