KCB Group has received accreditation of the United Nations (UN) Green Climate Fund (GCF).
The accreditation was validated at the 27th board meeting of the GCF, which was held virtually this year.
With accreditation, the lender will receive all Green Climate Funds amounting between $50M-$250M coming to Kenya.
“The Bank will supervise the implementation of these projects in line with its governance guidelines and policies that are in place as an implementing entity,” KCB Group said through its official Twitter feed.
KCB is the first lender in Kenya and the private sector entity to receive the accreditation, cementing the sustainability efforts within the Group especially for portfolio re-imagining in the green lending space.
The GCF Board meeting adopted the Updated Strategic Plan for the Green Climate Fund 2020-2023.
The Green Climate Fund (GCF) is the world’s largest dedicated fund helping developing countries reduce their greenhouse gas emissions and enhance their ability to respond to climate change.
It was set up by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010.