NAIROBI, KENYA: Businesses in the water, sanitisation and hygiene sector stand to benefit from 4 million Euros grant through a Sidian Bank led partnership.
The sector plays a critical role in the fight against the coronavirus which has so far affected 23,222 Kenyans and claimed several lives. Ministry of health officials recommend thorough handwashing and sanitization to keep reduce the spread of the virus.
On Tuesday Aqua for All and Sidian Bank announced a partnership that will avail 4 million Euros for lending to the Micro and Small Medium Enterprises in the sector.
“The safety of Kenyans is paramount. This partnership has come at an opportune time when the country is in dire need of innovative solutions to ensure that we are providing sustainable financial solutions for Kenyans. We are committed to backing the government in combating this pandemic by supporting our customers with financing to sustain WASH services for 2.5 million low-income population affected by COVID-19 in Kenya,” said Sidian Bank Chief Commercial Officer, Timothy Gitonga.
The partnership which has also roped in Davis and Shirtliff is aligned with Aqua for All’s efforts to mobilise public and private capital to facilitate the scale-up and sustainability of water and sanitation MSMEs and to achieve SDG 6: Clean water and sanitation for all with the institution that provide working capitals, LPO financing, Asset financing and any other needs which are meant to address COVID -19 pandemic in the W-A-S-H sector.
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“We are delighted to partner with Sidian Bank to develop an innovative finance facility in support of water, sanitation, and hygiene MSMEs in Kenya and of government efforts to fight COVID-19. The current crisis urges immediate action. Water and sanitation MSMEs must continue operating and expanding their reach to safeguard access to essential services for millions of Kenyans, especially those on low incomes, during the COVID-19 crisis and to pave the way to build the sector’s resilience in the future,” said Marlies Batterink Regional Program Manager East Africa Aqua for All.
The lender called on MSMEs in the WASH sector to leverage on this opportunity as it will go a long way to benefit the Kenyan economy.