World Bank to provide USD 750 million in funding to boost Kenya's infrastructure

The World Bank has agreed to provide a USD 750 million loan to the International Development Association (IDA) to finance the upgrading of road and other connectivity infrastructure in Kenya.

 
IDA funding will support the Horn of Africa Gateway Development Project (HoAGDP) which will upgrade 365 km of the 740 km Isiolo-Mandera Regional Road Corridor and 30 km of track roads.
 
The HoAGDP will also facilitate the installation of fiber optic cables along the entire 740km corridor and allow for additional steps such as trade facilitation, border control systems and the building of border posts.
 
Other initiatives include the provision of basic socio-economic infrastructure for communities along the corridor, institutional strengthening and emergency management measures to cope with disasters or disasters that occur during the existence of the project.
 
The World Bank argued that the upgraded path, fiber optic connections and provision of basic social services are expected to attract investment, allow regional and domestic trade, create employment and provide access to internet-based opportunities.
 
World Bank Country Director for Kenya Keith Hansen said: Promoting equal opportunity across the country and linking the sub-region would improve Kenya's transition from a low middle-income to a middle-income country by 2030. 'We believe that this investment, as part of the North and North Eastern Development Initiative, will make a significant contribution to the Government's efforts to ensure shared prosperity.'
 
The implementation of the Kenya-HoAGDP program is projected to take up to six years. It is also the first in a series of projects that support the construction of regional transport corridors and modal links under the Horn of Africa initiative.
 
The World Bank is the founding partner of the new Horn of Africa initiative launched by participating countries in 2019 to strengthen their collaboration and deliver development outcomes to their populations.
 
'This new project will launch the implementation of this initiative and address a major gap in the region's infrastructure and trade connectivity, as well as by strengthening regional institutions to promote knowledge sharing and build human capital.'

Posted on : 04 Aug,2021

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