Kigali – The International Finance Corporation (IFC) and the Italian Climate Fund have announced an investment of $210 million in the Kenyan subsidiary of Eni S.p.A. to expand the production and processing of advanced biofuels, supporting the decarbonization of the global transport system while ensuring the livelihood of up to 200,000 small Kenyan oilseed farmers. The investment consists of $135 million from IFC and $75 million mobilized by the Italian Climate Fund as part of the implementation of the Italian government's Mattei Plan in Kenya. This will enable Eni to increase both the production of advanced biofuel raw materials (agrifeedstock) grown in Kenya and the processing capacity through the construction of new pressing plants. The production of oilseeds, which is the primary raw material, is expected to increase from 44,000 tons to 500,000 tons per year. The project will also work with farmers, providing inputs, mechanization, logistics, certification, and training to help them produce oilseeds, which are grown on degraded land not suitable for food production and/or rotated with food crops, helping to improve soil fertility. The agreement was announced at the ongoing Africa CEO Forum 2024 in Kigali, Rwanda. (9colonne)