Ruto picks from Uhuru on borrowing spree as he secures Ksh15.5B World Bank Loan
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Ruto on Wednesday, February 1, secured Ksh15.5B World Bank Loan to finance government projects
Ruto on Wednesday, February 1, secured Ksh15.5B World Bank Loan to finance government projects.
The details of the loan were announced by Water Cabinet Secretary (CS) Alice Wahome during the launch of the Horn of Africa Groundwater for Resilience Regional Program at Sarova Panafric Hotel, Nairobi.
Wahome stated that the loan will improve groundwater management and access while also advancing the design of groundwater treatments.
“I am pleased to note the critical role played by the World Bank to finance this project through a loan of Ksh15.5 billion. The money will be disbursed within six years running from 2022 to 2027,” the CS announced.
Wahome further noted that the loan will be key in achieving President William Ruto’s economic plan.
“This project will be key in achieving Kenya Kwanza’s manifesto on reducing the cost of living, creating jobs, and improving the livelihood of the people,” she explained.
In a separate statement, Wahome revealed that five counties that fall into the Arid and semi-Arid Land (ASAL) category including Garissa, Mandera, Marsabit, Turkana, and Wajir will benefit from the programme.
Over 400 rural projects in ASAL regions will be restored with the aid of the funds, and where practical, new drought-smart boreholes will be drilled.
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“We will also develop stakeholders’ capacity and strengthen the enabling environment,” she added in a statement.
The World Bank loan will go a long way towards conserving groundwater resources and building resilience against drought as well as enhancing monitoring, information, and knowledge systems in groundwater management.
World Bank is advancing Ksh48 billion to Horn of Africa Countries through the Horn of Africa Groundwater for Resilience Regional Program.
Other Horn of Africa countries set to benefit from the program that aims at tapping groundwater potential and boosting climate resilience include Ethiopia and Somalia.
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