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 Faulu Microfinance Bank andGIZ partner to provide Smallholder Farmers  with Green Financing

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Faulu Microfinance Bank and  Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) have partnered to provide  Smallholder Farmers with Green Financing.

As part of the agreement, the Bank will disburse Sh120 million to 400 individuals in  six counties including Kirinyaga, Meru, Muranga, Nakuru, Machakos, and Makueni.

 Faulu Chief Executive Officer Julius Ouma said,“Because of this project, we will support smallholder farmers in accessing and using solar energy to improve their livelihoods and increase their resilience to climate change.”

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“We also hope that our support will increase their productivity and economic competitiveness,” Ouma added.

The project  which will be rolled out in four phases, is part of the sustainable energy for smallholder farmers’ project being implemented in Ethiopia, Kenya, and Uganda. 

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The green financing which targets Smallholder farmers in the dairy and horticulture value chains will focus on  solar-powered irrigation, cooling, and drying, among other solar technologies.

The Microfinance Bank indicated it will determine the financing needs of smallholder farmers for solar-powered appliances and equipment and develop appropriate financial products.

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The Bank will also identify reputable distributor partners for the relevant solutions and build capacity for both staff and potential customers.

Currently, the majority of smallholder farmers use petrol- or diesel-powered engines to pump water for irrigation or watering livestock.  These are expensive to run and maintain and also release Greenhouse Gas (GHG) emissions to the environment.

c and  Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) have partnered to provide  Smallholder Farmers  with Green Financing.

As part of the agreement, the Bank will disburse Sh120 million to 400 individuals in  six counties including Kirinyaga, Meru, Muranga, Nakuru, Machakos, and Makueni.

 Faulu Chief Executive Officer Julius Ouma said,“Because of this project, we will support smallholder farmers in accessing and using solar energy to improve their livelihoods and increase their resilience to climate change.”

“We also hope that our support will increase their productivity and economic competitiveness,” Ouma added.

The project  which will be rolled out in four phases, is part of the sustainable energy for smallholder farmers’ project being implemented in Ethiopia, Kenya, and Uganda. 

The green financing which targets Smallholder farmers in the dairy and horticulture value chains will focus on  solar-powered irrigation, cooling, and drying, among other solar technologies.

The Microfinance Bank indicated it will determine the financing needs of smallholder farmers for solar-powered appliances and equipment and develop appropriate financial products.

The Bank will also identify reputable distributor partners for the relevant solutions and build capacity for both staff and potential customers.

Currently, the majority of smallholder farmers use petrol- or diesel-powered engines to pump water for irrigation or watering livestock.  These are expensive to run and maintain and also release Greenhouse Gas (GHG) emissions to the environment.

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Val Lukhanyu
Val Lukhanyu
I cover technology news, startups, business and gadget reviews

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