KCB has partnered with the United Nations Institute for Training and Research (UNITAR) to provide green loans to boda-boda and tuk-tuk riders to promote clean transportation in the Country.
The programme will see 100,000 riders benefit from electric motorbikes for six years, creating 150,000 jobs.
KCB Group Chief Executive Officer(CEO) Paul Russo has revealed that it has set a target of transitioning 25 per cent of its total loan portfolio to green investments by 2025 as part of its Net Zero ambition.
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“The initiative is in line with our commitment to increase our green lending loan portfolio by working with like-minded partners to enhance green job creation and attaining the net zero ambitions,” he said.
Further, he said the Lender seeks to make it possible for players in the transport sector to acquire affordable electric bikes, which will help them earn a living at a time when the prices of fuel have skyrocketed.
On his part, Roads and Transport Cabinet Secretary Kipchumba Murkomen indicated that the government is keen on prioritising the adaptation of e-mobility.
“There is a need to reduce carbon emissions by 32% by 2030. In 2022 emissions in the transport sector were estimated to be 1.26 million tons of carbon dioxide,” said Murkomen.
