Kenyan companies will benefit from improved funding essential for growth and investment following a €20 million finance agreement, signed on 1 February, between the European Investment Bank and two Kenyan banks, ABC Bank and Consolidated Bank. The EIB’s Private Enterprise Finance Facility II will provide new finance for Kenyan companies seeking long-term loans and will reduce the risk of interest rate fluctuations. Providing funding in euro and US dollars to export-oriented enterprises, alongside Kenyan shillings for firms targeting local sector demand and generating revenues in shillings, it will help local firms to grow.