Background

The Kenya Industry and Entrepreneurship Project (KIEP) is a USD 50 million project implemented by the Ministry of Investments, Trade and Industry with support from the World Bank from 2018 to 2024. The Project aims to increase innovation and productivity in select private sector firms. 

The Kenya Vision 2030 aims to transform Kenya into a newly industrialized, globally competitive, middle-income country. By strengthening the innovation and entrepreneurship ecosystem and increasing firm-level innovation and productivity, this loan will help deliver Kenya’s Vision 2030, which recognizes the challenges of slow structural transformation and low productivity in sectors that employ the majority of Kenyans. This loan also aids the implementation of the broader fourth Medium-Term Plan (MTPIV) and Bottom-up Economic Transformation Agenda (BETA), which envisages the transformation of the Kenyan economy, partially through a higher contribution of manufacturing industry, and exporting sectors to GDP and accords priority to enhancing enablers including Industrial Research, Technology and Innovation as well as Green Manufacturing. MTPIV strives to raise productivity in all sectors of the economy, including manufacturing and agriculture, which require modernization and higher levels of technology absorption.