A large share of this financing is set aside for women-led enterprises and young entrepreneurs.

Under the agreement, EIB Global will extend a €50 million credit line to Family Bank, which the bank will match with an equal amount.

The funds will be used to expand lending to SMEs and Mid-Cap companies, particularly those operating in trade and agriculture.

The partnership was announced at the second European Union-Kenya Business Forum held in Nairobi.

It aims to strengthen the financial capacity and investment potential of Kenyan businesses, with at least 50% of the support going to women-owned or women-led companies and a minimum of 30% targeting youth-run ventures.

“This collaboration fits perfectly with our strategic goals for 2025–2029,” said Family Bank CEO Nancy Njau.

“It helps us grow our SME lending portfolio and improve how we serve various segments of the market. SMEs already account for over 80% of our clients, and this initiative will allow us to respond better to their specific needs.”

In addition to the credit facility, EIB Global will support Family Bank with technical assistance, especially in enhancing its gender inclusion strategies and improving financial products.

This effort may also meet the standards of the 2X Challenge, a global initiative launched in 2018 to promote investments in women.

Njau highlighted the importance of going beyond financing:

“Many small businesses, especially those led by women, also need access to information, education, and networks. This partnership gives us the tools to offer all of that.”

This initiative is part of the European Union’s broader Global Gateway strategy, which supports sustainable development in areas such as trade, climate action, agriculture, and manufacturing.

It also ties into the Investing in Young Businesses in Africa (IYBA) program, aimed at increasing job creation and business opportunities across the continent. EIB currently leads the IYBA effort.

“This agreement will deliver critical capital to Kenya’s private sector, helping grow businesses and create jobs,” said EIB Vice-President Thomas Östros.

“Investing in youth and women isn’t just morally right—it’s a smart economic move that will benefit the Kenyan economy.”

This marks the fourth time EIB Global and Family Bank have worked together on similar initiatives.

Hans Stausboll, Director for International Partnerships – Africa at the European Commission, added:

“Through the European Fund for Sustainable Development Plus (EFSD+), we’re helping unlock key resources to boost SMEs in Kenya. This includes supporting women entrepreneurs and promoting sustainable, climate-friendly value chains. It’s part of a bigger mission to strengthen various sectors of Kenya’s economy.”