Kenya France Ksh. 28 billion infrastructure Funding – Projects that will benefit
President Uhuru Kenyatta went to France of a State visit. He signed on behalf of Kenya seven memorandums of understanding that will see the country receive upto 250 million euros or Ksh. 28.8 billion.
The National Treasury negotiated for grants and loans to finance several infrastructure projects in the country.
This is the first time the presidents of the two countries are meeting in fourteen years.
Cabinet Secretaries Amina Mohamed, Henry Rotich, Najib Balala and Eugene Wamalwa have accompanied President Kenyatta on the state visit.
Last Mile Connectivity Programme
A bulk of the money Sh13.8 billion (120 million euros) will be used for financing the Last Mile Connectivity Programme.
Of this 90Million is being given to the country as a Concessional Loan while the remainder 30 million euros as a grant.
Meru Wind Farm
The French government is also giving Ksh.15.1 billion (15 million euros) for the phase two of the Roads 2000 Programme, Ksh. 60 billion (60 million euros) as a non sovereign loan for the Meru Wind Farm.
Ruiru II Dam
19 million euros will be set aside for the Ruiru II Dam that will see an increased water supply in the cosmopolitan Nairobi area.
East Africa Development Bank
The bilateral talks also saw Treasury CS Henry Rotich secure 33million for the East Africa Development Bank.
Earlier in the day Mr Kenyatta had a private familiarisation tour of the General Directorate for External Security where he was briefed on security matters by French security officials.
The two countries have promised to work together in the face of the global threat of terrorism.
Trade volumes between Kenya and France doubled from 104 million euros in 2013 to 213 million euros in 2014