Kenya to get Sh11bn as Eurobond, Gachagua says

Deputy President Rigathi Gachagua.[Standard,file]

The European Union (EU) has given Kenya a grant of 72 million Euros, which is about Sh11.4billion. 

The bond issuance was announced on Tuesday, September 24, under the Neighbourhood, Development and International Cooperation Instrument.

According to Deputy President Rigathi Gachagua, the money will fund priority areas in Green transition for  environmental sustainability and resilience, human development  and digital inclusion (Leave No One Behind), and democratic governance, peace and security. 

The agreement was signed by Deputy President, Rigathi Gachagua and the EU Commissioner for International Partnership, Jutta Urpilainen on the sidelines of the Global Gateway Forum 2023 in Brussels, Belgium.

Gachagua who is representing President William Ruto at the Summit welcomed the grant,  saying it underscored a strong shared vision for a partnership 

"That is best for our people and a future where our nation transitions into a green economy and environmental sustainability."

"Kenya and the European Union continue to flourish, bringing about positive change and shared prosperity,".

During an address to Kenyans in Europe, the DP said the safest way to invest money in Kenya was through government bonds.