In this situation, the Governing Council found itself obliged to offer the above-mentioned long-term refinancing operations in order to support the banks there and continue to ensure the functioning of monetary policy. Not least, the fact that the political decision-making processes in Europe were, and still are, rather cumbersome added to the pressure on the ECB to act.
It is therefore befitting that some of the leading Kenyan banks in these areas will be sharing their sustainable finance experiences and strategies going forward later this week. As we explore the opportunities of digitalization, we must remain seized of the risks.