Tea farmers in Kenya are set to benefit from a US $1bn grant issued by the eco.business Fund to Family Bank.
The funds are set to boost access to finance for sustainable agricultural producers, particularly in the tea sector through the implementation of climate-smart practices. In a joint statement, the two entities noted new partnership will also benefit sustainability-certified companies and ensure the long-term competitiveness of the agribusiness sector.
Biodiversity conservation
Dr. Jens Mackensen, Chairperson of the Board of Directors of the eco. business Fund expressed confidence that funds will contribute to biodiversity conservation, the sustainable use of natural resources and mitigate climate change.
“We are delighted by this new partnership with Family Bank. Together, we believe we can ramp up support to certified agribusiness in Kenya and ensure we contribute to biodiversity conservation, the sustainable use of natural resources and mitigate climate change and adapt to its impacts.”
Family Bank Chief Executive Officer Rebecca Mbithi said that the partnership is a testament to the bank’s commitment to supporting the growth of local markets, especially critical markets such as tea farming.
“It is through such strategic partnerships that we can support the sustainability and business continuity of SMEs in the agriculture, forestry, fishery, and tourism sectors,” said.
The investment is expected to support the fund’s overall mission to promote business and consumption practices that contribute to biodiversity conservation and climate action (adaptation and mitigation).
