The government has launched a new funding initiative to provide loans and grants to Micro, Small, and Medium Enterprises (MSMEs) across 21 counties. In a notice on February 4, the Kenya Development Corporation Limited (KDC) said it will lead the initiative dubbed ‘de-risking, inclusion and value enhancement for pastoral communities (Drive Fund) alongside the World Bank Group.
“KDC seeks to partner with regulated financial institutions to support viable MSMEs through the DRIVE Fund. The objective of the Fund is to bolster sustainable development within the Livestock Sector and support financial inclusion within pastoral communities across twenty-one (21) targeted Arid and Semi-Arid (ASAL) counties,” KDC said.
The targeted counties include Turkana, Marsabit, Mandera, Wajir, Garissa, Tana River, Isiolo, Samburu, Meru, Tharaka Nithi, Baringo, West Pokot, Narok, Laikipia, Kajiado, Makueni, Kitui, Lamu, Taita Taveta, Kilifi and Kwale.
Additionally, the Corporation invited Savings & Credit Cooperatives regulated by the SACCO Societies Regulatory Authority, Microfinance Banks regulated by the Central Bank of Kenya, and Commercial Banks lending to MSMEs in the Livestock Value Chain to apply for the DRIVE Fund.
How to Apply
1.Login into Kenya Development Corporation Website: https://kdc.go.ke/
2.Click Loan Application.
3.Create an account.
4.Under Loan Application, Select, Boresha Mifugo Wholesale Finance (WF). Fill in the required details, attach the required documents as per the provided application tabs and submit.
5.All attachments must be in PDF format.
Also Read: CBK Reduces Interest Rate on Loans
KDC clarified that all loan applications will be done online, and hard Copies will not be accepted.
The online loan application will remain open for 21 working days, from February 4, 2025, to midnight on March 4, 2025.
“Join us in shaping a resilient and inclusive future for Kenya’s pastoral communities,” KDC said.
Kenya Development Corporation Roles
KDC is a State Corporation established in 2020 to facilitate industrial and socio-economic development in Kenya by providing long-term financing and other financial, investment and business advisory services in target sectors of the economy.
It merged the operations of Industrial and Commercial Development Corporation (ICDC), Tourism Finance Corporation (TFC) and IDB Capital Limited.
KDC plays an important role in addressing critical gaps for long-term funding that cannot be met by commercial banks in target sectors in Kenya and elsewhere.
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