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Lenders in plan to ‘starve’ non-green projects of credit

KBA Chief Executive Officer Habil Olaka. [PHOTO: Wilberforce Okwiri/STANDARD]

Businesses may soon find it hard to access finance for investments that are likely to destroy the environment should all banks commit to protect the environment.

Kenya Bankers Association (KBA) CEO Habil Olaka said banks are increasingly introducing social and environmental impact clauses in their loan conditions, following last year’s signing of sustainable financing guidelines.

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