Download our blog’s APP from Google Playstore using the link here>>>
Looking for a JOB? See the latest Jobs and Vacancies in Kenya HERE>>>
Tuesday, November 22, 2022 – President William Ruto is on the verge of fulfilling yet another one of his promises.
This is after he secured funding for constructing 100 dams after meeting with officials from the African Export-Import Bank (AFRIEXIM).
In a statement, AFRIEXIM President Benedict Oramah indicated that the financial institution would disburse Ksh60 billion for the dam projects.
The money was part of the Ksh360 billion the bank pledged to support Ruto’s agriculture and climate change agendas.
Funding and construction of the dam projects, Oramah stated, would be done under a public-private partnership.
“We will work with Kenya to develop the projects and create structures that attract investors.
“Our bank plans to support, (first), with a facility of Ksh60 billion (USD500 million),” Oramah stated.
The president acknowledged that the country was experiencing adverse effects of drought, but the government’s intervention through the construction of dams would help mitigate the challenge.
“This will double the irrigated area in Kenya and will ensure that there is food production,” the bank president added.
Additionally, part of the Ksh360 billion facility will also see the government implement climate change adaptation programs.
Ruto’s administration intends to put over one million acres of land under irrigation in his pledge to secure food for Kenyans.
AFRIEXIM bank announced plans to set up an office in Nairobi.
.
