EU deploys six members to inspect Ksh223 Billion Projects in Kenya
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EU deploys six members to inspect Ksh223 Billion Projects funded by European Investment Bank in Kenya
EU deploys six members to inspect Ksh223 Billion Projects funded by European Investment Bank in Kenya.
On Tuesday, April 4, six members of the European Parliament visited several projects financed by the European Investment Bank (EIB) in Kenya.
The European Investment Bank (EIB) released Ksh223 billion into the country, and for various businesses and dealers.
It was discovered during the investigation that the bank funds more than 60 projects spread out across the nation.
“We are honoured by the visit from the Members of the European Parliament. To date, EIB has signed more than 60 projects in Kenya and invested more than Ksh223 billion in the country,” Edward Claessen, the Head of the EIB Regional Hub in Nairobi, stated.
“Our projects span the areas of energy, water, targeted urban development and social infrastructure, financial inclusion, and private sector investment to support MSMEs,” he added.
During the inspection tour, EU MPs grilled Kenyan traders about how they had explored areas touching on sustainable development goals, climate change, food security, and global health.
To learn more about how the funds were used, EU legislators also visited a number of initiatives that were sponsored by the EU and the EIB.
After the visit, the lawmakers found no anomalies or cause for alarm. Pierrette Herzberger, who represents Germany in the EU, applauded Kenyan farmers and promised to advocate for increased funding.
“We are very pleased with the work and impact that the EU and EIB funding is having on the ground.
“We shall be your ambassadors back in Europe to articulate the need for increased investment in the projects in Kenya as they are helping create sustainable jobs and grow the economy. We look forward to the continued partnership between the EU and Kenya,” Herzberger stated.
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Besides pushing for increased investment, EU lawmakers noted that the partnership was key to creating more job opportunities for Kenyans.
Their visit came after a meeting with President William Ruto and other delegates which explored new investment ventures.
Under a recently signed Global Gateway Africa – Europe Investment Package, EIB expressed interest in supporting Africa for a strong, inclusive, green, digital recovery and transformation.
It also vowed to accelerate the green energy transition, digital transition, sustainable growth, and job creation, and strengthen education and health systems.
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