A relief
to private schools facing challenges in re-opening after a commercial bank has
come up with a product to facilitate the venture.
Family
bank has signed a memorandum of understanding with Kenya Private Schools
Association CEO Ms Mutheu Kasanga to facilitate re-opening of their
institutions.
The bank
Chief Executive Officer Ms Rebeccah Mbithi said they are keen on supporting the
education eco system and as such we have put in place favourable terms such as lower
processing fee, repayment holiday till January 2021.
The private schools, the CEO said have 2.6
million learners, thus need with support to help in adhering to Covid 19
protocols.
“The
disease posed challenges to the private sector, he explained thus need for
assistance to facilitate the re-opening,” she said.
Mutheu on her part said the private school operators
were in need of support to facilitate the reopening.
She said
many of the members have reported facing challenges to meet the conditions set.
“ It is a a pleasure that the bank has come to the rescue of the key stakeholders in
education to work on the re-opening of their institutions,” she said.
One of the conditions to access loans, the institutions
should be registered with the Ministry of Education and have been operational in
the last three years.
The bank partnered with county governments and
assisted health facilities with equipment to help the spread of Covid 19.
The loan will be
between Sh500,000 and Sh3million.
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