Today, the International Finance Corporation (IFC) and the Italian Climate Fund announced a USD 210 million investment in Eni S.p.A.’s Kenyan subsidiary to expand the production and processing of advanced biofuels, supporting the decarbonisation of the global transport system while ensuring the livelihoods of up to 200,000 Kenyan small-scale oilseed farmers, laying the groundwork for the first Mattei Plan pilot initiative in the country.
USD 135 million of the investment will come from IFC, while USD 75 million will be mobilised by the Italian Climate Fund. That will enable Eni to increase both the production of advanced biofuel feedstock (agrifeedstock) grown in Kenya and the relevant processing capacity through the construction of new crushing plants. The production of oilseeds, which is the primary feedstock, is expected to increase from 44,000 tonnes to 500,000 tonnes per year.
The project will also engage with farmers, providing input, mechanisation, logistics, certifications and training to help them produce oilseeds, which are cultivated on degraded land unsuitable for food production and/or grown in rotation with food crops, helping to improve soil fertility.
The agreement was announced at the ongoing Africa CEO Forum 2024 in Kigali, Rwanda.
For more information: IFC and the Italian Climate Fund work with Eni to support biofuel production and farmers in Kenya
