Sh1.1 billion set to boost green-economy initiative in Kenya
By Graham Kajilwa | November 25th 2015
Small and medium enterprises (SMEs) across the country are set to benefit from a Sh1.1 billion credit line from the Ministry of Environment and Natural Resources.
Through an initiative dubbed ‘Green Growth’ supported by Sweden, entrepreneurs involved in environmentally friendly businesses will receive up to Sh2 million in seed money, as well as research and training through incubation, in support of the development green enterprises.
This new initiative will be implemented as part of the Sustainable Development Goals (SDGs) and meeting the country’s Vision 2030 programmes.
Environment and Natural Resources Cabinet Secretary Judi Wakhungu said adoption of green growth has become inevitable following massive destruction of the country’s natural resources, which has become detrimental to our human existence.
“Green growth will ensure management of adverse effects of climate change as we will be maximise the economic potential of our natural resources but in an environmentally conducive manner,” said Prof Wakhungu during the launch of the programme.
The programme, to be implemented through the National Environment Trust Fund (Netfund) targets entrepreneurs with innovations in energy-saving methods like home-made hydroelectricity plants, waste management and green manufacturing.
Netfund’s Business Development Director Phyllis Ombonyo said apart from the seed money, the participants would be assisted to market their ideas abroad as well as access finance from donors and local financial institutions.
In recent years, Kenya has adopted several green economy-related approaches and policies, which include implementing renewable energy feed-in tariffs in 2008, embedding sustainable natural resource utilisation into its 2010 Constitution and mainstreaming green economy in its Second Medium Term Plan (2013-2017).
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