{"id":6425,"date":"2026-09-16T12:38:08","date_gmt":"2026-09-16T12:38:08","guid":{"rendered":"https:\/\/thenewsroomhub.co.ke\/?p=6425"},"modified":"2026-09-16T12:38:08","modified_gmt":"2026-09-16T12:38:08","slug":"co-op-bank-partners-with-ebrd-on-us100-million-currency-swap-deal","status":"publish","type":"post","link":"https:\/\/thenewsroomhub.co.ke\/index.php\/2026\/09\/16\/co-op-bank-partners-with-ebrd-on-us100-million-currency-swap-deal\/","title":{"rendered":"Co-op Bank Partners with EBRD on US$100 Million Currency Swap Deal"},"content":{"rendered":"\r\n\r\nCo-operative Bank of Kenya has partnered with the European Bank for Reconstruction and Development (EBRD) under a US$100 million financing programme aimed at expanding access to competitively priced foreign currency financing for Kenyan businesses.\r\n\r\n \r\n\r\nThe first US$50 million tranche has been completed through a cross-currency swap transaction, marking the first drawdown under the broader facility agreed between the two institutions.\r\n\r\n \r\n\r\nThe transaction also marks the first cross-currency swap to use the Kenya Shilling Overnight Interbank Average (KESONIA), Kenya\u2019s benchmark reference rate.\r\n\r\n \r\n\r\nThe financing programme is expected to strengthen Co-operative Bank\u2019s ability to provide long-term dollar-denominated financing to businesses operating in sectors linked to international markets.\r\n\r\n \r\n\r\nAmong the sectors expected to benefit are manufacturing, agriculture, agro-processing, horticulture, floriculture, logistics and tourism, as well as other businesses involved in regional and global value chains.\r\n\r\n \r\n
\"Co-op<\/figure>\r\n \r\n\r\nThrough the partnership, businesses will have improved access to foreign currency financing, longer repayment periods and enhanced trade finance and working capital facilities.\r\n\r\n \r\n\r\nThe programme will also support companies seeking to finance machinery, equipment, technology, raw materials and other strategic inputs required for expansion and modernization.\r\n\r\n \r\n\r\nBusinesses with international contracts, import requirements or export revenues are also expected to benefit from increased capacity to manage their foreign exchange needs.\r\n\r\n \r\n\r\nCo-operative Bank Group Managing Director and CEO Dr. Gideon Muriuki said the partnership would strengthen the bank\u2019s ability to offer innovative financing solutions to Kenyan enterprises.\r\n\r\n \r\n
\u201cOur partnership with the EBRD under this US$100 million currency swap programme represents an important milestone in our commitment to supporting Kenyan businesses with innovative financing solutions,\u201d Muriuki said.\r\n\r\n<\/blockquote>\r\n \r\n\r\nHe added that the first US$50 million tranche would enhance the bank\u2019s capacity to provide long-term and competitively priced foreign currency financing while supporting business competitiveness, economic development and job creation.\r\n\r\n \r\n\r\nAbdessamad Abouti, Regional Head of Local-Currency Portfolio Management at the EBRD, described the transaction as an important development for Kenya\u2019s financial markets.\r\n\r\n \r\n\r\nHe said the swap demonstrated how reforms around KESONIA could move from development to practical implementation, while highlighting the EBRD\u2019s commitment to supporting local capital markets.\r\n\r\n \r\n\r\nThe financing programme forms part of Co-operative Bank\u2019s broader efforts to support productive sectors, enterprises and businesses contributing to economic growth, employment and export earnings.\r\n\r\n \r\n\r\nThe bank said its partnerships with international financial institutions such as the EBRD will continue to play a role in expanding funding opportunities for Kenyan businesses and supporting trade, investment and economic activity.\r\n\r\n","protected":false},"excerpt":{"rendered":"

Co-operative Bank of Kenya has partnered with the European Bank for Reconstruction and Development (EBRD) under a US$100 million financing…<\/p>\n","protected":false},"author":2,"featured_media":6426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[768],"class_list":["post-6425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-co-op-bank-partners-with-ebrd-on-us100-million-currency-swap-deal"],"jetpack_featured_media_url":"https:\/\/thenewsroomhub.co.ke\/wp-content\/uploads\/2026\/09\/ec7b139b-ed38-46d5-b210-f00fb3a82cc7.jpg","_links":{"self":[{"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/6425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/comments?post=6425"}],"version-history":[{"count":1,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/6425\/revisions"}],"predecessor-version":[{"id":6427,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/6425\/revisions\/6427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/media\/6426"}],"wp:attachment":[{"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/media?parent=6425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/categories?post=6425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenewsroomhub.co.ke\/index.php\/wp-json\/wp\/v2\/tags?post=6425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}