The Kakamega County Assembly has passed a Bill, endorsing the formation of the Lake Region Economic Bloc (LREB).
The County Lake Region Economic Bloc Bill, 2018, moved by Majority leader Joel Ongoro, was unanimously passed by the MCAs last Wednesday. The assembly is the first to pass a Bill ratifying the formation of the LREB.
Speaker Morris Buluma applauded members for passing the Bill, saying it would give the Executive time to initiate the bloc's formation.
The enactment of the Bill will see formation of partnerships expected to benefit the 14 member counties. At least one third of the remaining assemblies has to pass the Bill. The bloc will be operational upon the signing and ratification of a LREB Agreement by all member counties.
The Bill seeks to provide a legal framework for member counties on developing policies and programmes aimed at widening and enhancing cooperation in the economic, industrial, social, and technological and research fields.
The bloc aims to facilitate access to wider markets, enhance food security, pursue economic growth and joint public investments, and strengthen partnerships with the private sector and mainstream gender and vulnerable groups’ issues.
Top of the bloc's objective has been the formation of a regional bank. The counties were to inject Sh2.8 billion to go towards the bank's creation in an agreement signed by governors in Kakamega on March 26.
Kakamega Governor Wycliffe Oparanya, who is also LREB chair, said the bloc would enhance the counties' economies and rallied others to fast-track the ratification process.
