Kenya receives Sh100 billion soft loan from world bank to be used in 10 counties.

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World Bank has today announced lending Kenya Sh100 billion concessional loan to aid infrastructure development in its 10 undeserved counties.

The 10 counties majority in the North and North-Eastern part of the country are said to be performing below the national average on development indicators.

They include Garissa, Isiolo, Lamu, Mandera, Marsabit, Samburu, Tana River, Turkana, Wajir, and West Pokot.

The funding will go to six projects including an off-grid energy access initiative worth Sh1.5 billion that the World Bank says will provide electricity to 1.2 million people and contribute 96 megawatts to the national grid.

A further Sh50 billion will go towards a 740 km stretch of the Isiolo-Wajir-Mandera road corridor in the northeast and enhance internet access there.

The funds were announced during the banks Vice President Makhtar Diop Visit that saw him meet President Uhuru Kenyatta to discuss key engagements of the strategic partnership between the Government of Kenya and the bank.

The partnership between the two has seen Kenya benefit from close to $11 billion in interest-free credits, grants, partial-risk guarantees to the government and a wide range of investments and projects supporting private sector development from various institutions within the group since 1964.


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Muhatia
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