Kenya: Financial Institutions

International Development written question – answered on 14th January 2008.

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Photo of Annette Brooke Annette Brooke Shadow Spokesperson (Children, Schools and Families), Shadow Minister (Education)

To ask the Secretary of State for International Development what steps he is taking to support microfinance institutions during the political disturbances in Kenya.

Photo of Douglas Alexander Douglas Alexander The Secretary of State for International Development

Since January 2005 the UK has supported Kenyan microfinance institutions through the multi-donor funded Financial Sector Deepening Trust (£19 million in total since inception) that aims to increase access to financial services for the poor. The trust is an independent entity overseen by a multi-stakeholder board. The trust is currently exploring setting up an emergency facility for the industry to help microfinance institutions assist in the recovery efforts in Kenya.

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