Kenya, Germany sign a Ksh 35B loan agreement

Written By: Brian Itava
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Kenya, Germany sign a Ksh 35B loan agreement
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Kenya and Germany have signed a loan agreement totaling to Ksh 35 billion which will go towards financing various projects in the country.

Treasury Cabinet Secretary Henry Rotich says the funds will go towards projects under the Big 4 Agenda and providing technical skills to youth, women, and people with disabilities.

A keen interest has been placed on the youth who form the majority of Kenyan population.

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Lately, it has dawned on the government, private sector and development stakeholders that the youth are an integral part of the Kenyan society.

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For this reason, the government of Kenya is looking to empower the youth, women and people living with disabilities through a partnership pact signed between Kenya and German that seeks to support Kenya in technical and financial cooperation.

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According to CS Rotich, Kenya and Germany have finalized long-overdue negotiations that culminated into a partnership deal that will enable Kenyans access previous and new German programs in the country with utmost focus placed on the youth.

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Germany has promised to support Kenya in matters: Good governance and Decentralization, agriculture, irrigation, energy, health and climate change promotion of youth employment.

Other funds that Kenya is set to benefit from the cooperation includes; Ksh 4.5 billion in loan, and Ksh 884 million as a grant.

 

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