China Gives Kenya Ksh.40 Billion Loan For Stalled Projects After Cap From IMF, World Bank
Kenya has secured a Ksh.40 billion loan from China to help fund stalled projects in 15 counties.
Ndindi Nyoro, Chair of the National Assembly Budget Committee, stated that the agreement reached between the two countries will allow contractors to return to work as early as September.
Nyoro stated that the country’s budget is being strained by stalled projects and the high cost of infrastructure projects, with pending bills posing an even greater challenge.
“For the last 10 years, we bit more than we could chew, and that is why we now have a lot of pending projects, mostly on roads,” said Nyoro.
Revival of stalled projects
— Citizen TV Kenya (@citizentvkenya) August 30, 2024
Govt secures Ksh. 40B loan from China to revive the projects
Govt targets to revive stalled projects in 15 counties
Nyoro: We’ve pending projects mostly incomplete roads#CitizenFridayNight @lillian_muli pic.twitter.com/GhTxaGZwM6
China’s new funding for 15 counties is expected to spill over into neighboring counties where the roads stretch.
“We took 15 counties and projects roads that have not been done more than 20 percent since they were launched,” Nyoro added.
Elgeyo Marakwet and Baringo had stalled projects, one being the Tot-Sigor Road, which cuts across the two counties now set to benefit from the new funding.
Kanyuambora Road in Embu has been stalled for some time, and Gacharage Road in Kiambu, Laini, has been designated for a marathon construction project.
Rioma and Marani Roads have been listed in Kisii County, while ‘The Belt of Gichugu’ is a 95-kilometer road project in Kirinyaga.
The road runs through all five wards of the constituency, with Piai and Murinduku Road set to be part of the new government intervention.
Contractors will also be working on Makueni’s Tawa, Nguluni, and Itagine roads in the coming weeks.
“All contractors are expected to be on-site by the month of September. The good thing is that the roads are very long…na tumepata funding until completion,” stated Nyoro
In Nakuru, the government has invested some of the money in the Njoro, Piston, and Elburgon Road, which has been stalled for some time.
Nyeri, Taita Taveta, and Nyamira counties are among those affected by the government’s quick intervention.
The budget committee says it is working to regularize allocations to pending bills, which currently total Ksh.150 billion for infrastructure projects.
President Ruto’s development tours across the country have left the government with stalled projects that have exposed it to ridicule and harsh criticism.
In some cases, projects never took off after they were launched, while others stalled midway.
This comes after the IMF revoked its loan to Kenya over payment uncertainty and lower eligibility ranking.
China Gives Kenya Ksh.40 Billion Loan For Stalled Projects After Cap From IMF, World Bank
