The government of Kenya may lose about Ksh4.2 trillion in financial development aid from the United States and European nations if the anti-LGBTQ bill is passed.
According to a report by Trailblazers Business Strategies, if the proposed laws targeting LGBTQ+ people are adopted by parliament, Kenya will lose almost Sh4.186 trillion in financial development funding from the US and the EU.
While launching the report on Monday, October 9, Fred Ogolla stated that the government should be prepared to invest around Sh11 billion to execute the two proposed legislation.
“It is my submission that President Ruto should sign these bills into law only if he has a concrete plan of where he is going to get the Ksh4.186 trillion: Ksh4.076 trillion for covering the foreign losses and Ksh11 billion for implementing the Bill,” said Ogola.
The economist explained that his team conducted an economic assessment study that reviewed all the existing trade partnerships and ongoing development aid arrangements that would immediately be affected if President Ruto approves the proposed Family Protection Bill.
According to the report, none of Kenya’s current trade and development aid agreements with the United States or the European Union include a direct requirement that the country legalize homosexuality; however, criminalizing homosexuality will result in an immediate disruption of these arrangements because it will constitute direct violations of human rights.
Some of the losses highlighted by the report include the US for humanitarian assistance to Kenya, European Union development aid, EU Humanitarian funding, EU disaster preparedness funding, IMF funding, and Tourism Revenue.
The report comes days after a section of Kenyan faithful from the Muslim and Christian communities took to the streets of Nairobi on Friday to protest the Supreme Court judgment that affirmed the right of LGBTQ+ persons to form associations in Kenya.
Fred Ogola, lawyer and economist warned against implementing the Family Protection Bill tabled before the Parliament by Homa Bay Town Member of Parliament Peter Kaluma.
Kaluma’s bill seeks to criminalize homosexuality and same-sex marriages. If passed into law, it will criminalize the promotion, recruitment, and funding of homosexuality and LGBTQ.