President Ruto’s 360B deal for construction of dams.
President Ruto’s 360B deal for construction of dams; The head of state, secures 360 billion aimed at constructing of dams.
Speaking to the media, AFRIEXIM president, Benedict Oramah, highlighted that the financial institution would disburse Ksh60 billion for the dam projects.
The 60B is part of the 360B that was pledged to the head of state, to mitigate drought and adverse climatic conditions.
Oramah said,”We will work with Kenya to develop the projects and create structures that attract investors. Our bank plans to support, (first), with a facility of Ksh60 billion.”
Oramah added that construction of dams will be a positive move in ensuring surplus food production.
He said,”This will double the irrigated area in Kenya and will ensure that there is food production.”
AFRIEXIM further has plans to set up their office in Kenya, to easily formulate projects.
The president stated,” We welcome the plan by the African Export – Import Bank (Afriexim Bank) to set up an office in Nairobi. This will allow us to expand our engagement with the bank on several investment areas such as infrastructure, housing, the creative industry and the MSMEs ecosystem.”