UK Climate Investments has announced that it intends to invest up to £30 million ($US39 million) in order to finance the construction of affordable green housing in Kenya.
The prospective commitment, which will be delivered through a locally managed strategy targeting $US80-250 million of investor commitments, is intended to sponsor the construction and development of approximately 10,000 energy and water efficient homes in Kenya. By demonstrating the viability of environmentally sustainable building design, UKCI’s commitment and eventual investment will seek to embed green standards in the Kenyan market. The commitment will also support the creation of a new green asset class for local investors, mobilising Kenyan institutional capital to invest further in the sector.
