Ruto, UK PM agree to fast-track 6 projects worth Sh500 billion

Among the projects is the ambitious Sh32 billion Railway City that will be built on the outskirts on Nairobi CBD

President William Ruto meets with UK Prime Minister Rishi Sunak in Egypt

President William Ruto and UK Prime Minister Rishi Sunak have agreed to fast-track six projects worth Sh500 billion to accelerate the flow of climate finance into Kenya.

The two struck a deal after meeting at the COP27 climate summit in Sharm-el-Sheik, Egypt on Monday, November 7, 2022.

These new, clean and green investments will become flagship projects of the UK-Kenya Strategic Partnership – an ambitious five-year agreement that is unlocking mutual benefits for the UK and Kenya.

The projects include;

  1. New geothermal and solar energy generation at Menegai and Malindi.
  2. A Sh425 billion Public Private Partnership to deliver the Grand High Falls Dam, which will generate a gigawatt of renewable power and provide an area twice the size of the Maasai Mara with drought-combating irrigation solutions.
  3. The green regeneration of Nairobi which is anchored around a new central rail station and the Railway City.
  4. A Sh32 billion investment in a climate-resilient agriculture hub for the Lake Victoria region in Kisumu that will create 2,000 direct jobs and provide an income for a further 20,000 farmers.

The UK Government will also commit Sh2 billion to a new guarantee company that will lower investment risk and unlock Sh12 billion of climate finance for Kenyan projects over the next 3 years.

The Prime Minister praised President Ruto’s climate leadership and urged Kenya to continue along the path of green growth, urging all countries to deliver on the commitments made at COP26 in Glasgow.

Throughout its COP26 Presidency, the UK has worked with partners across Africa to deliver and build on the Glasgow Climate Pact, and to see commitments made at COP26 turned into action.

For example, in Kenya since COP26 Sh753 million has been committed and Sh390 million will be spent to support Kenya’s energy transition, unlocking private sector investment in forest protection and the Kenyan Government’s ambitious 10% forest cover target.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

How did Evangelist Ezekiel manage to fill the Kasarani Stadium single-handedly?

How did Evangelist Ezekiel manage to fill the Kasarani Stadium single-handedly?

Why KOT is impressed with President Ruto's daughter Charlene

Why KOT is impressed with President Ruto's daughter Charlene

Gachagua addresses reports of tension at State House and fallout with Ruto

Gachagua addresses reports of tension at State House and fallout with Ruto

We shall sponsor mass weddings for police officers every year-Dorcas Gachagua

We shall sponsor mass weddings for police officers every year-Dorcas Gachagua

How lorry caused PSV bus to plunge into Kisii River

How lorry caused PSV bus to plunge into Kisii River

Oburu Odinga hospitalized in India, undergoes surgery

Oburu Odinga hospitalized in India, undergoes surgery

CS Alfred Mutua lights up social media with Taekwondo skills in South Korea [Video]

CS Alfred Mutua lights up social media with Taekwondo skills in South Korea [Video]

Guardian Angel bus ferrying passengers plunges into a river

Guardian Angel bus ferrying passengers plunges into a river

Reactions as Nairobi county bans clubs in estates, issues directives to bars

Reactions as Nairobi county bans clubs in estates, issues directives to bars