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Kampala, Uganda | THE INDEPENDENT | African Export-Import Bank has signed a US$3 Billion Country Programme with the Kenyan government.
The memorandum was signed by Kenya’s Cabinet Secretary of the Ministry of National Treasury and Economic Planning, Professor Njuguna Ndungu, and the President and Chairman of the Board of Directors of Afreximbank, Professor Benedict Oramah, in the presence of President William Ruto.
The memorandum establishes a framework for the implementation of the Country Programme for the Republic of Kenya.
The three-year Country Programme of up to US$3 billion will support viable trade and trade-related investments in Kenya in both the private and public sectors. The financing package will be implemented using several instruments, including loans, guarantee facilities, trade services, investment banking and advisory services.
Kenya will be the first country to access Afreximbank’s recently introduced Climate Change Adaptation Facility to be implemented as a component of the country programme, with an US$800 million Kenya Climate Change Adaptation Facility (KCCAF). This will be directed towards developing 200 irrigation schemes under a public-private partnership framework using structures that are budget and sovereign-debt-neutral.
𝐊𝐄𝐍𝐘𝐀 𝐑𝐄𝐂𝐄𝐈𝐕𝐄𝐒 𝐊𝐒𝐇 𝟒𝟎𝟎 𝐁𝐈𝐋𝐋𝐈𝐎𝐍 𝐓𝐎 𝐅𝐔𝐍𝐃 𝐁𝐎𝐓𝐓𝐎𝐌 𝐔𝐏 𝐀𝐆𝐄𝐍𝐃𝐀
Kenya and the African Export-Import Bank (@afreximbank) have signed a three-year Ksh400 billion financing programme anchored on the Bottom Up Economic Transformation Agenda.… pic.twitter.com/fsJ99g2obe
— State House Kenya (@StateHouseKenya) May 2, 2023
