International Finance Corporation (IFC) Africa Vice President Sergio Pimenta has revealed that the private lending arm of the World Bank, invested Kes 111.1 billion into Kenyan firms in 2022.

Speaking at the Two Rivers International Finance and Innovation Centre (TRIFIC) meeting in Nairobi, Pimenta expects the numbers to grow after the recent appointment of Mary Porter Peschka to be IFC Eastern Africa Regional Director.

“Kenya is a very important country for us…….last year we deployed about 750 million dollars here, and now that Mary is here, I expect these numbers to be much higher, so please do contact her so that we can do more,” Pimenta said.

  Further, Pimenta lauded the current regime for supporting the local private sector.

“We see an administration that is really promoting very strong development of private sector, a stronger role for private sector to play in the economy, bringing in the right policies, bringing in the right people who are really pushing for the right agenda, and we want to support that,” he said.

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He also praised the country for being a leader in climate change mitigation measures.

“……I know that Kenya hosted the climate week, which is really playing a leadership role in the region in terms of what can be done, looking at what are the right measures for adaptation, but that requires financing, that requires long -term investment, and that requires private sector to play a role.”