UK announces $184M investment in Kenya

By Andrew Wasike

NAIROBI, Kenya (AA) - Kenya’s Big Four agenda received a boost after the UK announced on Tuesday a 20 billion Kenya shillings ($184 million) investment for the projects.

The Big Four agenda was conceived by Kenyan President Uhuru Kenyatta to boost food security, affordable housing, manufacturing and affordable health care.

Kenyatta, who is on a three-day visit to the UK, where he will co-chair the Global Education Summit with UK Prime Minister Boris Johnson, oversaw the signing of the deal.

UK Foreign Secretary Dominic Raab announced the funds by the new UK government and private investment into the Big 4 Projects, noting an additional 5.2 billion Kenya shillings ($479,000) of UK aid will be matched by 3.5 billion Kenya shillings ($322,000) of private investment to finance 10,000 green affordable homes in Kenya.

“These new homes will be energy and water-efficient properties for low and middle-income families, and will contribute to Kenya’s goal of building 500,000 new affordable homes by 2022,” he said.

Johnson made the invitation to his counterpart during a business forum hosted Raab and the Lord Mayor of London William Russell at Mansion House, the Lord Mayor's official residence.

Kenyatta announced Kenya’s ambition to deepen cooperation with the Foreign Commonwealth Development Office (FCDO) through a Memorandum of Understanding (MoU) to be formalized between the National Treasury and the Private Sector Infrastructure Development Group (PIDG).

“The cooperation with Foreign Commonwealth Development Office is for possible funding, through Private Sector Infrastructure Development Group, of 1.3 million US Dollars to support early and transaction-stage PPP project development activities in Kenya," he said.

Kenyatta was joined at the ceremony by Treasury Secretary Ukur Yattani, Foreign Affairs Secretary Raychelle Omamo and Mohammed Aden from the East African Community and Regional Development.

The centerpiece of the Kenyan leader’s visit will be co-chairing the Global Education Summit, which aims to raise $5 billion to educate children across the developing world in the next five years.

Kenyatta will also meet senior members of the UK royal family.