African Development Bank has invested Sh4.6 trillion in development projects Kenya in the last seven years.
According to the bank’s President Akinwumi Adenisia, most of the funding went to infrastructure.
Speaking while inspecting the Sh16 billion Kenol -Sagana- Marua dual carriage way, Adenisia said Kenya had benefitted immensely from bank’s programmes.
“In the last 10 years, we have increased investment in Kenya by Sh4.6 trillion with infrastructure taking up 72 per cent of the investment,” he said.
He said the bank was investing in infrastructure as a key component of economic growth.
“The Mombasa-Nairobi-Adis Ababa project has expanded trade between the two countries by 400 per cent while at the same time giving Ethiopia access to the port of Mombasa,” he said
Other projects financed by the bank are the Mwatate road in Taita Taveta. “We have also given out Sh128 billion for water and sewerage projects in Kenya and the 310 mega watt Lake Turkana wind power project,” he said
He also named Menengai geothermal development project as another initiative financed by the bank.
Infrastructure Cabinet Secretary James Macharia, who accompanied the bank president, said the Kenol Sagana Marua road project will be ready December.
“We are ahead of time because the project was scheduled to be completed by October next year,” said the CS. He said project is being done in two phases. One phase (from Kenol to Sagana) 70 per cent complete while the second one (Sagana to Marua road is 63 per cent complete
The road, commissioned on September 2019, will have interchanges at Makutano-Sagana-Marua and Karatina towns.
The bank boss said President Uhuru Kenyatta’s administration had satisfactorily managed projects funded by the bank.
“The projects have transformed the lives of the people while at the same time reduced accidents and vehicle repair time,” the bank president said.