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Treasury struggles to fund Uhuru's projects amid rising public debt
By Nzioka Justin | Updated Feb 17, 2020 at 13:30 EAT
treasury-struggles-to-fund-uhuru-s-projects-amid-rising-public-debt
Treasury CS Ukur Yatani [Photo/ Courtesy]
SUMMARY

Out of the Sh1.41 trillion cost, Treasury intends to use the Public-Private Partnership model in an attempt to fund up to a third of the total cost.

The stated projects range from energy, health, education, transport as well as infrastructure.

Almost 80 projects of an estimated Sh1.1 trillion are set for unveiling in the financial year starting in June 2020.

"The estimated total value of these projects is $11,422 million (Sh1.41 trillion)," the Treasury CS Ukur Yatani stated through the Budget Policy Statement for 2020, previously presented to the National Assembly.

This is despite the increasing debt as a result of heavy borrowing, which has now seen the Treasury resort to finding alternatives to fund the projects associated with president Uhuru's Big Four Agenda.

Out of the Sh1.41 trillion cost, Treasury intends to use the Public-Private Partnership model in an attempt to fund up to a third of the total cost.

The stated projects range from energy, health, education, transport as well as infrastructure. About the transport, the projects include a mega Sh65 billion express road intended to link Jomo Kenyatta International Airport with James Gichuru Road in Westlands.

Others included are road toll procurements for various roads, and which are now ready for tendering.

In the energy sector, a 1,050 Megawatt power plant is set to be built in Lamu County, in addition to other geothermal projects which can yield up to 210 Megawatt.

A private hospital at Kenyatta National Hospital (KNH) with an estimated capacity of 300 beds is also to be constructed alongside other three teaching and referral hospitals in the Sh1.14 trillion projects.

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