World Bank lines up $150m funding for small firms in Kenya

About 45,000 Kenyans are in line to benefit from new jobs in a $150 million (Sh23 billion) financing project for micro, small, and medium enterprises (MSMEs).

世界银行 approved the Kenya Jobs and Economic Transformation Project (KJET) on Tuesday, December 12, which targets to increase private sector investments, access to markets and sustainable finance to create and improve jobs.

The project targets 6,800 women in the MSME value chain.

“With $150 million (Sh23 billion) in financing, KJET will provide business development services aimed at strengthening viable value chains and connecting MSMEs to markets, in addition to investments in firms for the improvement of productive capacity and capabilities. In turn, these activities will enhance firms’ capacity and efficiency, translating to increased hiring and improved worker productivity,” said the World Bank.

Source: Business Daily

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