Bank urges Kenya to seek project funds

President Uhuru Kenyatta with the African Development Bank’s Executive Director for the East African Region, Dr Mulu Ketsela (L) and Regional Director Mr Gabriel Negatu (R) on November 25, 2013. The Africa Development Bank has asked Kenya to seek more funds to finance infrastructure projects. PHOTO | PSCU  PSCU

In Summary

• “We have invited the government to seek funding for additional projects. These will lead to extra infrastructure projects in the country,” Mr Negatu said on Tuesday.
• “There has been mixed performance of counties. Recurrent budget has been high, perhaps too high and expenditure queries are many. There is also need to address absorption of funds and internal controls.”
• President Uhuru Kenyatta has said that Kenya will work with countries that share common interests and respect sovereignty. This has been interpreted to mean the provision of loans that have less stringent conditions.

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The Africa Development Bank has asked Kenya to seek more funds to finance infrastructure projects.

The government had the options to use several of the financier’s “windows” to raise additional money for the development of infrastructure, AfDB director Gabriel Negatu said.

“We have invited the government to seek funding for additional projects. These will lead to extra infrastructure projects in the country,” Mr Negatu said on Tuesday.

He was addressing the launch of county budget training manuals at Jomo Kenyatta International Convention Centre.

Mr Negatu said the manuals would enhance budgeting and internal audit systems in the devolved units. The county officials will be trained by Kenya School of Government.

MIXED PERFORMANCE

“There has been mixed performance of counties. Recurrent budget has been high, perhaps too high and expenditure queries are many. There is also need to address absorption of funds and internal controls.”

The training manuals were sponsored by African Development Bank. The institution has in recent years become one of the major financiers of infrastructure projects.

President Uhuru Kenyatta has said that Kenya will work with countries that share common interests and respect sovereignty. This has been interpreted to mean the provision of loans that have less stringent conditions.

The government is undertaking huge infrastructure projects in road construction, energy and water systems across the country.

Increasingly, the AfDB has been quite visible in the financing of huge projects, the most prominent being the Thika Superhighway.

AfDB is also funding the expansion and refurbishment of Jomo Kenyatta International Airport. Others are the Sh11 billion financing for the expansion of the Outer Ring Road in Nairobi.