A new guarantee launched by Absa, UNCDF, and UNDP aims to bridge a 2.1 billion US dollar gap in cold storage infrastructure.
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Kenya is facing a significant deficit in cold storage capacity, estimated at 2.1 billion US dollars. To address this, Absa, the UNCDF, and the UNDP have introduced a new guarantee designed to unlock necessary funding for the sector.
According to Food Business Africa, the financing will be organised as asset-based lending. This approach allows solar-powered storage equipment to act as collateral, supported by the UNCDF guarantee to reduce risk for lenders.
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