“Specifically, we are offering secured and unsecured loans and overdrafts with flexible terms to schools for initiatives such as infrastructure development,” Oigara said.

Conscious of the reopening challenges facing both public and private schools, KCB Bank Kenya, Oigara said is extending asset-based finance scheme loans to cater for water tanks, hand washing points, gloves, masks, fumigation services, desks, chairs and all hygiene and sanitization needs, required for back to school

While welcoming KCB’s support, Prof Magoha said: “We are looking at partnerships to ensure that we get the institutions ready to effectively offer learning services to all learners while at the same time guaranteeing the safety and well-being of the stakeholders in the education ecosystem. We are glad to see the bank offering both financial and non-financial support towards this,”.

The solution will also enable schools to provide personal protective equipment to staff and students who do not have access to the same. Schools, especially boarding schools will be required to fumigate their premises every so often. The bank has committed to financing this type of need.

KCB says it will continue financing hardware, software, and training costs to ensure that the schools can carry on with the virtual learning classes even as they plan to reopen.

The bank will also continue providing unsecured loans and overdrafts for salaries and short-term expenses for the schools.