President Uhuru Kenyatta and Environment Cabinet Secretary Judy Wakhungu
during the Conference of Parties Meeting (COP21) at Le Bourget in
Paris, France. Kenya has secured a Sh20 billion loan from the World Bank
to finance construction of a dam to stabilise water supply in the coast
region. PHOTO | PSCU
Kenya has secured a Sh20 billion loan from the World Bank to
finance construction of a dam to stabilise water supply in the coast
region.
The deal was sealed on the sidelines of the
ongoing climate talks in Paris where global leaders are pursuing
solutions to tackle climate change challenges.
“Mwache
dam will supply 186,000 cubic metres of water a day to Mombasa. It will
significantly ease the water deficiency our second city currently
faces,” said Eugene Wamalwa, cabinet secretary for water who signed the
agreement on behalf of government.
The dam will be located in Mazeras, Kwale County.
The
financing deal comes just days after the World Bank announced that it
will fund Africa to a tune of Sh1.6 trillion to help nations adapt to
climate change and boost the region’s resilience to climate shocks.
“Sub-Saharan
Africa is highly vulnerable to climate shocks and our research shows
that could have far-ranging impact. This plan identifies concrete steps
that African governments can take to ensure that their countries will
not lose hard-won gains in economic growth and poverty reduction and
they can offer some protection from climate change,” said World Bank
Group president Jim Yong Kim in a statement announcing the funding.
Of
the total amount committed by the World Bank, Sh581 billion ($5.7
billion) is expected from the International development Association
(IDA), the arm of the bank that lends to poor countries.
About
Sh224 billion ($2.2 billion) will be sourced from various existing
climate finance instruments, $2 billion from development institutions
and Sh357 billion ($3.5billion) from the private sector.
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