Victoria Commercial Bank Lands $7.5M Green Financing Facility to Support SMEs’ Low-Carbon Transition

Victoria Commercial Bank PLC (VCB) has announced the successful closure of a USD 7.5 million green financing facility with Symbiotics, a leading global platform for impact investing. The facility, funded through the BII Green Basket Bond, a partnership with British International Investment (BII), the UK’s development finance institution, will be dedicated exclusively to financing eligible green projects across Kenya.

The investment marks a key milestone in VCB’s sustainability journey as it works to expand its green loan portfolio by 20% by 2030. It reinforces the bank’s commitment to driving inclusive and sustainable economic growth, particularly among small and medium-sized enterprises (SMEs), which form the backbone of Kenya’s economy.

Aligned with international Green Loan Principles, the facility ensures responsible fund deployment, transparent impact tracking, and compliance with global sustainability standards. The financing will support projects in climate-smart agriculture, renewable energy, clean transportation, green buildings, and other climate-resilient infrastructure initiatives.

“This facility marks a significant milestone in our journey to finance a greener, more resilient future,” said Poonam Shah, speaking on behalf of VCB. “We are committed not just to providing capital, but to walking alongside our clients as they integrate sustainability into their businesses. Together, we can unlock the full potential of SMEs to drive Kenya’s transition to a climate-smart economy.”

The facility aligns with Kenya’s Green Finance Taxonomy (KGFT), developed by the Central Bank of Kenya, and the country’s updated Nationally Determined Contributions (NDCs) under the Paris Agreement. Both frameworks guide the transition toward a low-emission, climate-resilient economy.

In addition to financing, VCB will offer advisory services to help clients embed sustainability into their business operations and tap into emerging green opportunities. By promoting access to subsidised green financing, the partnership between VCB and Symbiotics aims to empower local enterprises to grow sustainably while advancing Kenya’s broader green development agenda.

This initiative represents a major step in delivering on VCB’s sustainability strategy, financing a greener future while fostering resilience, climate action, and inclusive economic growth.