Ruto applies for Ksh49B loan from World Bank
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The administration of Preident William Ruto applies for Ksh49B World Bank loan for Kenya Urban Support Programme
The administration of Preident William Ruto applies for Ksh49B World Bank loan for Kenya Urban Support Programme.
On Tuesday, July 4, the Ministry of Lands revealed that the government has submitted a credit request to the World Bank for Ksh 49 billion, or almost USD 350 million.
According to a notice from the State Department for Housing and Urban Development, the loan will be used to make it easier for President William Ruto’s administration to carry out the second phase of the Kenya Urban Support Programme (KUSP2).
As part of the finance model, the government will allocate Ksh1.4 billion for the project’s implementation.
The project’s primary goals, according to the agency under the Ministry of Lands, will be the improvement of the infrastructure in metropolitan areas around the country as well as sanitary conditions and solid waste management.
“The government intends to apply part of the proceeds to payments for goods, works, non-consulting services and consulting services to be procured under this project.
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“Some of the project components include urban development national policies, capacity building and program management and will support implementation at the national level by directly financing activities that contribute towards the delivery of the Program outcomes,” read the notice in part.
Conversely, the government also detailed that the programme will target some of the infrastructural development in refugee camps.
The government presented its proposal to the World Bank on June 15, based on the project details.
Upon approval, the funding will be disbursed in instalments until June 30, 2028.
Former President Uhuru Kenyatta unveiled the Kenya Urban Support Programme (KUSP) project in 2017 with an eye on developing major cities and towns in the country.
In the first phase, projects were undertaken in Nairobi, Mombasa, Kisumu, Nakuru and Eldoret.
Kenya received Ksh42 billion in funding for the first project.
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