Chase Bank gets Sh3bn loan for green projects

Chase Bank has received a Sh3 billion loan from Global Climate Partnership Fund (GCPF) for environmental friendly energy projects.

The eight year loan, which has the option of rising to Sh4.5 billion, will be used for small-scale renewable energy projects which are on the rise as corporates look for alternatives to unpredictable power outages.

Chase Bank said it already had several potential projects and will start to disburse financing before the end of the month.

“Green energy lending is a key strategic focus for Chase Bank,” said the bank’s chief executive Paul Njaga.

This is the second such transaction that the bank has signed with international development agencies in as many months, underlining the high supply of funds for green energy.