Kenya Receives Over Sh200 Billion in Climate Finance to Fund Green Projects and Ease Budget Pressures
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The National Treasury has received over Sh200 billion in climate finance to help fund the budget and ease fiscal pressures.
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The IMF's Resilience and Sustainability Fund (RSF) has committed Sh88.5 billion, with Sh9.6 billion recently disbursed.
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RSF funds will finance climate projects like clean energy and afforestation, freeing up Sh29.8 billion in the 2023/24 budget.
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The Climate Investment Funds endorsed a Sh11.2 billion plan to support renewable energy integration in Kenya’s grid.
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Climate finance from entities like the RSF and Climate Investment Funds helps catalyze additional private sector funds.