Project Institutional Factors and Implementation of Blended Finance in Tea Development Agency Projects in Bomet County, Kenya

Abstract

Project institutional factors and implementation of blended finance in tea development agency projects in Bomet County, Kenya, was the main aim of the study, which was anchored by the following objectives; to find out the effect of Stakeholder participation on Implementation of blended Finance in tea development agency projects in Bomet County, to establish the effect of Project design on Implementation of blended Finance in tea development agency projects in Bomet County, to assess the effect of Monitoring and evaluation on Implementation of blended Finance in tea development agency projects in Bomet County, to investigate the effect of communication Framework on Implementation of blended Finance in tea development agency projects in Bomet County, Kenya. According to studies conducted non-have been based in Bomet County thus the study aims to fill this knowledge gap. The theories underpinned in the study are; Stakeholder Theory, Theory of Project Management and Diffusion Theory of Communication. The study used cross-sectional survey research design and had a target population of 105 respondents with a sample of 105 respondents obtained using the census method. A pilot test of 10 respondents was done with Kiambu county KTDA factories and farmers, with instruments of data collection being questionnaires and interview guides. Cronbach’s alpha coefficient was adopted to ascertain for reliability that was obtained through internal consistency. Simple linear regression method was applied to analyse the quantitative data and test the strength of the relationship amongst variables and this enables predicting the dependent variable value based on the independent variables. In testing how strongly the quantitative data variables related and on predicting the dependent variable based on the independent variables, quantitative data was applied. It was found that stakeholder participation with R=0.435, R2=0.189, β=0.435, t=3.924 and the F (1, 67) = 15.401 at p=0.040<0.05, concluded that the variable has a medium positive significant effect on implementation of blended finance tea development agency projects. The study also established that project design with R=0.927, R2=0.859, β=0.927, t=20.020, F (1,67) = 399.623 at p=0.000<0.05; monitoring and evaluation with R=0.959, R2=0.919, β=0.959, t=27.415, F (1,67) = 751.580 at p=0.000<0.05; and communication framework R=0.882, R2=0.777, β=0.882, t=15.173, F (1,67) = 230.219 at p=0.000<0.05 had a positive significant effect on implementation of blended finance tea development agency projects. The study suggests that stakeholder participation project design, monitoring and evaluation and communication framework have an effect on implementation of blended finance tea development agency projects. The research made the recommendations that there is need to incorporate project design, stakeholder participation should be given consideration, monitoring and evaluation feedback should function as a basis for the improvement and effective implementation and that communication between the various project stakeholders should be encouraged during project implementation. The research suggested that a study on Application of Blended finance in development projects as source of project financing in Kenya.