International Finance Corporation pumps Sh420m into tea agency

The International Finance Corporation (IFC), the private sector lending arm of the World Bank, has injected Sh420 million into Kenya Tea Development Agency (KTDA) to train farmers.

IFC will also help KTDA to conduct soil and leaf testing in order to formulate the most appropriate fertiliser blends to help farmers maximise tea yields. The deal will also see more than 560,000 farmers equipped with business skills to help them manage income received from tea.

KTDA Holdings Group CEO Lerionka Tiampati observed that through the partnership, farmers will be empowered to make informed financial decisions. “The project will increase productivity of our smallholder farmers through improved fertiliser and tea nutritional management,” said Tiampati. Currently, the agency manages 66 factories in small-scale tea sub-sector.

IFC head of advisory for manufacturing, agribusiness and services Tania Lozansky said the corporation remains committed to investing in farmers, especially those in rural areas, in order to trim poverty numbers.

“IFC and KTDA will use innovative soil testing and sustainable forestry techniques to boost yields and increase revenues for tea farmers in Kenya,” said Lozansky.