AfDB Kenya projects funding jumps to Sh48 billion

Economy AfDB Kenya projects funding jumps to Sh48 billion Sunday, June 16, 2019 22:00 By VICTOR JUMA AfDB typically lends to governments and private companies, mostly to fund infrastructure projects such as roads and energy.

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Kenya: AfDB to Double Investment Funding in Kenya. Keter said AFDB had given a total of Sh30 billion for the first and second phases of the project. He said 50 homes in Ol-Rongai would be connected through the second phase that is running in different parts of the country. Read the original article on Capital FM.

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Kenya climbed six places to rank ninth last year in the Africa Visa Openness Index which measures how easy it is for visitors to enter a country. The index, published by African Development Bank (Afdb), shows that Kenya climbed from its 15th spot in 2017.

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LAGOS, Nigeria, Capital Markets in Africa: The World Bank has suspended funding to help develop a $14 billion hydropower project in the Democratic Republic of Congo, a stage in what could become the world’s biggest power plant, after a disagreement with the nation over implementation plans.

 · The contract will see China Railway No 2 Engineering Group provide 10 per cent of the funding with the rest provided by the government. Kenya is also constructing a $3.27 billion 609km new standard gauge railway line between Mombasa and Nairobi to.

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The total cost of the project was Ksh 32 billion (US$360 million). Funding was provided by the African Development Bank (US$180 million), the Exim Bank of China (US$100 million), and the Kenyan government (US$80 million).[1]