Kenya Secures Sh16.4 Billion Loan to Combat Rural Poverty and Climate Challenges

Kenya has just secured a significant Sh16.4 billion loan from the International Fund for Agricultural Development (IFAD). This funding will help tackle environmental issues, strengthen climate resilience, and improve rural livelihoods across ten counties.

The agreement was signed in Nairobi by Treasury Cabinet Secretary John Mbadi and IFAD Regional Director Sara Mbago-Bhunu. The loan amounts to about $126.8 million, with a low interest rate of 1.41% and a five-year grace period before repayments begin.

This funding will support the Integrated Natural Resources Management Programme (INReMP) in counties like Elgeyo Marakwet, West Pokot, Trans Nzoia, and others. The initiative aims to combat the impacts of climate change and poor land use in these rural areas.

Mbadi emphasized that this program goes beyond environmental conservation. It’s about ensuring that rural communities can restore their natural resources while securing their livelihoods for future generations.

Moreover, the program intends to boost access to food and water and strengthen support for sustainable development, aligning with existing climate initiatives. Environment Cabinet Secretary Deborah Barasa believes it will enhance current projects by focusing on sustainable value chains through new partnerships.

Barasa pointed out that the initiative will build on successful methods from IFAD projects in Kenya, emphasizing collaboration between the public and private sectors.

Recent data shows that Kenya’s agricultural sector is vulnerable to climate change, which threatens food security. With more focus on nature-friendly practices, this program could play a crucial role in building resilience among communities.

In addition to improving rural governance, the program aims to provide long-term, sustainable income sources. Mbago-Bhunu remarked that the goal is to fight rural poverty while promoting food security and climate resilience.

Overall, this loan is seen as a vital step towards sustainable development in Kenya, benefiting both the environment and the communities that depend on it. For more details about Kenya’s environmental projects, you can visit IFAD’s official website.

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Kenya gets Sh16.4 billion loan to tackle rural poverty, climate woes, Headlines, Climate Change, climate change, John Mbadi, Deborah Barasa, Ministry of Environment, IFAD, environmental degradation