The United Kingdom has pledged to sponsor 50 green investment projects in Kenya worth £6.6 million to battle climate change. A total of 10 counties in the country have been selected to develop these projects.
According to Business Insider Africa, the fund is set to be distributed among 10 counties to create the 50 projects and bring them to reality.
The investment by the UK Government is also intended to create jobs in the East African country and preserve the country’s rich Bio diversity and distinctive landscape.
A Kenyan media outlet reported that the 10 counties set to receive the funds and benefit from the initiative include Embu, Kirinyaga, Kisumu, Laikipia, Nairobi, Makueni, Nandi, Taita-Taveta, Vihiga, and Wajir.
Leigh Stubblefield, Development Director at the British High Commission in Nairobi explained that notably countries with the least carbon footprints often experience the catastrophic effect of climate change the most.
He cited the ongoing disastrous floods in Kenya as an example of his theory.
The County Green Finance Assessment which was recentlydisrupts launched in Nairobi is tasked with directing how the funds will be allocated to the ten counties selected.
The report for the funding was done by the Financial Sector Deepening Kenya (FSD Kenya) an independent trust backed by the UK government to provide financial solutions to Kenya’s real-world challenges.
County Green Finance Assessment guides funding allocation for long-term climate solutions in the selected Kenyan counties.