The Kenyan Government has established a Ksh 5.1 billion AgriBiz Programme which aims to create jobs for women and youth in the agricultural sector.
The investment which is jointly being funded by the Government of Kenya, The European Union, the Ministry of Foreign Affairs of Denmark (Danida), the Food and Agriculture Organization (FAO) and the African Development Bank will fund 2,400 women and youth-led agribusinesses.
It will also work with local financial institutions to leverage some Ksh17.6 billion in loans for agribusinesses.
The programme will be implemented jointly with selected county governments and will establish eight Business Incubation Hubs (BIHs) to provide training, business advisory and financing to women and youth in agribusiness to promote sustainable exploitation of the natural resources base by encouraging appropriate agribusinesses practices.
The 5 year programme will be implemented by Denmark, FAO, the Kenya Climate Innovation Center (KCIC), the African Development Bank (AfDB) and the Africa Guarantee Fund (AGF).
The Programme Budget of EUR 44.4 million is funded by the European Union through the European Development Fund (EDF): EUR 43 500 000, Denmark EUR 700 000 and FAO EUR 200 000.