Africa-Press – Kenya. The United Kingdom has agreed to advance six projects worth Sh500 billion to boost Kenya’s leadership on climate change.
This was arrived at, after President William Ruto and UK Prime Minister Rishi Sunak held talks on Monday at the COP27 meeting in Sharm-el-Sheik, Egypt.
They include the Malindi Solar Expansion project and the Menengai Geothermal project.
The Sh425 billion Grand High Falls Dam project is a Public Private Partnership (PPP) that is expected to generate 1000 megawatts of hydroelectric energy power and irrigation for approximately 400,000 hectares of land.
The Nairobi Railway City project is also among the six. It is a green regeneration of central Nairobi, anchored around a new central rail station and connected to the Bus Rapid Transit (BRT).
The United Green will be situated in Kisumu for the Lake Victoria region.
The project is expected to create 2,000 job opportunities and boost 20,000 farmers.
Rishi and Ruto also agreed that the UK will launch a Guarantee company that will de-risk investments, through collaboration with CPF Financial Services and other private investors.
The UK has pledged Sh2 billion for the company. It is expected to generate Sh12 billion over the next three years.
The investments will strengthen bilateral ties between the two states, promoting the five-year agreement of the UK- Kenya Strategic Partnership.
British High Commissioner to Kenya Jane Marriott, said the investment and partnership will promote the interest of both countries.
“The UK and Kenya go far when we go together. By fast-tracking finance into these clean, green projects with honest, reliable investment the UK is supporting Kenya to advance and maintain its continent-leading climate credentials – with mutual benefits for both our countries,” she said.
Sunak lauded Ruto’s commitment to climate leadership and urged all member states to deliver on their COP26 commitments.
The COP26 was held in 2021 Glasgow in Scotland.
Throughout its COP26 Presidency, the UK has worked with partners across Africa to deliver and build on the Glasgow Climate Pact.
Since the Glasgow meeting, it has committed Sh751 million (£5.4m) to Kenya, of which Sh389 million (£2.8m) will be spent to support the country’s energy transition.
For More News And Analysis About Kenya Follow Africa-Press
