UK and Kenya agree to fast-track $4.1 Billion of climate projects: The UK and Kenya will accelerate the implementation of climate projects worth 500 billion shillings ($4.1 billion) in the East African nation.
A sum of 425 billion shillings will be spent on a dam on Tana River to support the generation of 1 gigawatt of power and provide water to irrigate 400,000 hectares of farmland, the UK government said in a statement following a meeting between Prime Minister Rishi Sunak and Kenya’s President William Ruto at the international climate summit in Sharm el Sheikh, Egypt.
Other projects include;
- Developing a 32 billion shilling climate-resilient agriculture hub for the Lake Victoria region in Kisumu county.
- Some 7.5 billion shillings will be invested in a Globeleq-backed solar plant along Kenya’s coast. An additional 2.5 billion shillings will go to developing a 35-megawatt geothermal power plant.
- Some 5 billion shillings will support the development of a smart railway city in the capital, Nairobi.
- The UK in partnership with pension fund manager CPF Financial Services will commit to 2 billion shillings to launch a new guarantee company, which will mobilize 12 billion shillings of new climate finance for Kenyan infrastructure over the next three years.
Kenya 🇰🇪 is an AfCFTA member country