Sidian Bank, Aqua for All Launch 4 Million Euro Covid 19-WASH Loan Facility for SMEs

Sidian Bank, Aqua for All Launch 4 Million Euro Covid 19-WASH Loan Facility for SMEs

Kenya’s Sidian Bank has partnered with Aqua for All, Dutch Non-Profit institution to unveil 4 Million Euros Covid -19 Wash loan facility in bridging the service and financial gaps in the water and sanitation sector.

Through the partnership, they will mobilise additional resources in support of the Government’s Emergency Response for COVID-19 pandemic. 

The loan facility targets MSME’s in the water and sanitization value chain sector through short-term financing facilities in working capital, asset, and project finance. 

Chief Commercial Officer, Mr Timothy Gitonga said Sidian Bank is committed to backing the government in combating the pandemic by supporting customers with financing to sustain WASH services for 2.5 million low-income population affected by COVID-19 in Kenya.

Speaking virtually from Netherlands Ms Marlies Batterink Regional Program Manager East Africa Aqua for All said “The current crisis urges immediate action. Water and sanitation MSMEs must continue operating and expanding their reach to safeguard access to essential services for millions of Kenyans, especially those on low incomes, during the COVID-19 crisis and to pave the way to build the sector’s resilience in the future.”

This partnership is aligned with Aqua for All’s efforts to mobilise public and private capital to facilitate the scale-up and sustainability of water and sanitation MSMEs and to achieve SDG 6: Clean water and sanitation for all with the institution will provide Working capitals, LPO financing, and Asset financing.