Hustler Fund has distributed Sh35.3 billion to Kenyans, official tells UN meeting

Deputy President Rigathi Gachagua, President William Ruto and the Cabinet Secretary Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Simon Chelagui during the launch of the Hustler Fund at Green Park Terminus in Nairobi on November 30, last year. [File, Standard]

"As we track the mid-way point on our way to 2030, Kenya, like many other developing and middle-income countries, is still burdened with unsustainable debts which hinder our ability to invest in enablers for Sustainable Development Goals," said Mang'eni.

She said that Kenya echoes the sentiments of UN secretary-general Antonio Guterres who, speaking during the opening of the forum on the current global financial system, said it is falling short in addressing the complex challenges including recovery from the pandemic, the climate emergency and the debt crisis in the global south.

The PS said that Kenya was calling for reforms in the financial system that acknowledges the capabilities of developing nations and ensures a mutually beneficial outcome, providing affordable, sufficient and sustainable financing delivered in a timely manner.

Developing countries

Mang'eni said that Kenya supports the push by the UN boss to actualize the Stimulus Development Goals Stimulus package proposal of Sh70 trillion to offset challenging market conditions faced by developing countries.

"Kenya has stepped up climate adaptation and mitigation efforts including green energy, smart agriculture, decarbonized manufacturing, e-mobility and green building, towards the attainment of zero carbon by 2050," said Mang'eni.

She called on the summit to deliver a rescue plan for humanity and the planet through political actions that foster partnerships and shared prosperity sufficient for the implementation of SDGs.