The United Kingdom and Kenya will speed up the implementation of climate projects worth 500 billion shillings ($4.1 billion) in the East African country.
The UK government said in a statement after a meeting between Prime Minister Rishi Sunak that Sh425 billion will be spent on a dam on the Tana River to support the generation of one gigawatt of energy and provide water to irrigate 400,000 hectares of farmland. And Kenyan President William Ruto at the International Climate Summit in Sharm El Sheikh, Egypt.
Other projects include:
Development of a Sh32 billion climate-resistant agricultural center for the Lake Victoria region of Kisumu County.
About Sh7.5 billion will be invested in a Globeleq-backed solar power plant along the Kenyan coast. An additional 2.5 billion shillings will be allocated for the development of a 35 MW geothermal power plant.
About Sh5 billion will support the development of a smart rail city in the capital, Nairobi.
The UK, in partnership with pension fund manager CPF Financial Services, will commit Sh2 billion to launch a new guarantee company, which will mobilize Sh12 billion of new climate finance for Kenyan infrastructure over the next three years.
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