Accreditation assessment of applicant 104 (APL104)

The Green Climate Fund (GCF) Accreditation Panel assessed KCB Bank Kenya Limited (APL104) for accreditation as a national direct access entity. The bank is recommended for accreditation for medium-sized projects and medium environmental and social risk (category B/I-2), covering basic fiduciary standards, project management, and on-lending/blending. While the bank fully meets standards for transparency, accountability, gender, and environmental and social safeguards, it only partially meets requirements for procurement oversight, independent project evaluation, and public disclosure of project results. Accreditation is recommended subject to several conditions, including the revision of its Supply Chain and Procurement Policy and the future conduct of an external audit of its environmental and social management system.

• KCB Bank Kenya Limited is recommended for accreditation for projects of 'medium' size (above USD 50 million up to USD 250 million) and a maximum environmental and social risk category of 'medium risk (category B/I-2)'.
• The applicant fully complies with GCF standards regarding transparency, accountability, anti-money laundering, and the protection of whistleblowers, utilizing a 'zero tolerance of fraud, corruption and other forms of misconduct' policy and a 'whistle-blowing mechanism'.
• The bank's environmental and social management system (ESMS), based on the 2020 SEMS Policy and IFC performance standards 1–8, is found to meet GCF requirements, although it has not yet undergone an external audit since the 2020 policy adoption.
• The applicant's Gender Diversity and Inclusion Policy (GEDI Policy) and its track record in targeting women—such as through an 'agribusiness value chain financing programme'—fully meet the updated GCF Gender Policy.
• The bank partially meets fiduciary standards due to gaps in its procurement policies, specifically the lack of 'procedures, guidelines and methodologies for overseeing and assessing the procurement procedures and practices of beneficiary institutions, executing entities or project sponsors'.
• Gaps were identified in project management and on-lending standards, particularly regarding the lack of demonstrated 'independent evaluation of projects' and insufficient 'public disclosure of project monitoring and evaluation reports'.
• The bank has a demonstrated track record in climate-related financing, including USD 350 million for the 'mifugo ni mali' Livestock Programme and USD 154 million for a power distribution company project in Kenya.

APA

Green Climate Fund (n.d.). Accreditation assessment of applicant 104 (APL104). https://www.greenclimate.fund/sites/default/files/decision/b27/decision-b27-05-annex-iv.pdf

Chicago

Green Climate Fund. Accreditation assessment of applicant 104 (APL104). n.d. https://www.greenclimate.fund/sites/default/files/decision/b27/decision-b27-05-annex-iv.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Accreditation assessment of applicant 104 (APL104) |url=https://www.greenclimate.fund/sites/default/files/decision/b27/decision-b27-05-annex-iv.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefundndaccreditation, author = {{Green Climate Fund}}, title = {{Accreditation assessment of applicant 104 (APL104)}}, institution = {Green Climate Fund}, url = {https://www.greenclimate.fund/sites/default/files/decision/b27/decision-b27-05-annex-iv.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }