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EU to invest 4.5 billion euros on Kenyan projects

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The European Union (EU) and its 19 member states on Monday, 12 November 2018, announced that they will invest 519 billion shillings (4.5 billion euros) on development projects in Kenya over the next five years.

The development partners have identified priority areas to support Kenya’s medium term plan 2018 – 2022 and its so-called big four agenda.

The priority areas range from sustainable infrastructure, job creation, resilience building, governance and accountability and could also span to other areas of strategic interest such as environment and climate change.

The agreement was signed by Stefano A. Dejak, Ambassador of the EU when he and the Cabinet Secretary for Treasury and Planning, Henry Rotich, signed the European Union Joint strategy with Kenya for the next five years.

Dejak said that Kenya is at a turning point, marked by the need to consolidate and strengthen economic growth, the rule of law and democratic governance to fulfill its Vision 2030.

“The Joint Cooperation Strategy will adapt the EU’s approach to best reflect Kenya’s lower middle-income status while addressing the major inequalities and development challenges that persist across the country,” said Dejak.

“The support will be distributed to different ministries and sectors such as devolution ministry to ensure county government deliver their services effectively,” said Rotich.

– APA

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