Desert Water in Turkana. Kenya has received Sh850 billion ($10 million)
from the Arab Bank for Development in Africa to expand and rehabilitate
the water supply and sewerage systems in Oloitokitok town. Photo/FILE
Kenya has received Sh850 million ($10 million)
from the Arab Bank for Development in Africa to expand and rehabilitate
the water supply and sewerage systems in Oloitokitok town.
Signing the loan agreement yesterday, the National Treasury’s principal secretary Mr Kamau Thugge said that demand for clean water services in the town is rising with the rapidly growing population.
DEMAND FOR WATER
“…the
town has experienced high influx of population which has increased the
demand for clean water and related services and therefore your
intervention is timely,” said Mr Thugge.
The Arab Bank
for Development in Africa (BADEA) has extended the loan to Kenya at
annual interest rate of one per cent. Funds are repayable within 30
years, including a 10-year grace period.
BADEA director
general, Mr Abdelaziz Khelef, is in the country on an inspection trip
on existing projects funded by the bank. Since 1975, the bank has
disbursed Sh12.3 billion ($144.6 million) to Kenya for various
infrastructure projects.
Projects that have benefited
from the bank’s financing include the Thika-Garissa road, the
Wote-Makindu road and the Hola Irrigation scheme.
Mr
Thugge said infrastructure projects such as these will bolster the
country’s economic growth. It is projected that the economy will grow by
more than five per cent in 2013.
SECURITY CONCERNS
There
have been concerns in the wake of the Westgate hostage crisis that
growth would slow down. However, Mr Thugge said the economy is
resilient.
“The economy will not be affected by this
(attack). Government plans have not changed and we will continue to
implement our infrastructure development plans,” said Mr Thugge.
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