04/03/2021 (Agence Europe) – The EU and the European Investment Bank announced, on Wednesday 3 March, the allocation of €120 million to support SMEs and agriculture in Kenya that have been heavily affected by the impact of the Covid-19 crisis. Thanks to €100 million in EIB loans to Equity Bank and a €20 million grant from the EU, SMEs and small farmers will now have access to finance. New technical support will strengthen Equity Bank’s capacity to assess, implement and monitor long-term investment projects in agricultural value chains and allow them to develop the supply of long-term finance for agriculture. Kenya’s National Treasury observed a downturn in the growth rate from 6.1% to 2.5% in 2020. SMEs, which sustain the highest proportion of employment, are the most vulnerable. (AN)