|
|
 |
During talks with the ADB President Donald Kaberuka here Saturday evening, Kibaki noted that bank had allocated Kenya Ksh 38 billion (1US$= 66 Kenya Shillings) under a new funding cycle, an increase of 20 per cent from the initial Ksh 24.7 billion.
President Kibaki said that the increase was in tandem with the country's vision 2030, and noted that the funds would complement local resources in implementation of projects and programmes to attain set targets under Vision 2030.
He especially thanked the ADB for funding the first phase of the Isiolo-Moyale road and the Nairobi-Thika super highway that were critical links in the country and the region.
The Kenyan leader expressed his government's support for the proposed ADB funding under the African development cycle in the electricity inter-connection among Ethiopia, Uganda, DR Congo, Kenya, Rwanda and Burundi.
Other regional Projects proposed for funding by the bank include a fertilized plant, roads and the railways.
Kibaki said the country was now peaceful and on the path to full recovery after the unfortunate post-election challenges.
But he said while the Kenyan economy was on the path to recovery, there were various global issues that might slow the recovery.
"The rising trend in global prices for food and fuel will continue to complicate economic management. Therefore there is need for global initiatives to assist especially oil and net food importing countries," Kibaki said.
He applauded the cordial relations Kenya enjoys with the bank under the current leadership, adding that crucial regional interventions for the African countries, including Kenya, had been initiated, citing the Africa Fertilizer Mechanism Fund and additional funds to mitigate against the increasing oil and food prices.
|
|
|
 Share your opinion or read the 0 comments written
 Print version
 Sent to a friend |
| |
| |
| |
| |
| |
| |
Top |
| |
| |
|
| |
| |
|
|
|
|
|