{"id":120252,"date":"2024-06-04T21:34:57","date_gmt":"2024-06-04T21:34:57","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-secures-sh63bn-loan-from-south-korea"},"modified":"2024-06-04T22:26:27","modified_gmt":"2024-06-04T22:26:27","slug":"ruto-secures-sh63bn-loan-from-south-korea","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-secures-sh63bn-loan-from-south-korea","title":{"rendered":"Ruto secures Sh63bn loan from South Korea"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Kenya has secured $485 million (Sh63 billion) concessional development loan from the Republic of South Korea.<\/p>\n

President William Ruto says the facility includes $238 million (Sh30.9 billion) for the Konza Digital Media City Project.<\/p>\n

The president, who is in Seoul, noted that the new facility will bolster Kenya’s digital ecosystem, expanding opportunities for the youth in the creative economy.<\/p>\n

“We value our strong relations with South Korea, which continues to make a significant contribution to Kenya’s development, especially in technology,” President Ruto posted on his X account on Tuesday.<\/p>\n

The president held talks with President Yoon Suk Yeol of Korea on the sidelines of the Korea-Africa Summit.<\/p>\n

The summit is being held at the Korea International Exhibition Centre in Goyang on the outskirts of the capital Seoul.<\/p>\n

The bilateral talks reviewed the progress of the Sh132 billion Framework Arrangement partnership agreed upon during his last visit in November 2022.<\/p>\n

State House had said Africa and South Korea will discuss areas of mutual interest, including trade promotion, industrialisation, infrastructure development, and job creation.<\/p>\n

“The discussions will also cover agricultural productivity, climate change response, and transitioning to carbon-free energy,” said State House Spokesperson Hussein Mohamed on Sunday.<\/p>\n

“These topics align with President Ruto’s roles as the African Union Champion for Institutional Reform and the Chair of the Committee of African Heads of State and Government on Climate Change.”<\/p>\n

Mohamed said agreements worth Sh40 billion will be concluded to create opportunities in Kenya’s creative economy sector, and Sh 25 billion for water and irrigation projects.<\/p>\n

Kenya and South Korea are expected to finalise a Labour Migration Program, potentially making Kenya one of the few African countries approved for labour supply under the South Korea Employment Permit System (EPS) Program.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Kenya has secured $485 million (Sh63 billion) concessional development loan from the Republic of South Korea. President William Ruto says the facility includes $238 million (Sh30.9 billion) for the Konza Digital Media City Project. The president, who is in Seoul, noted that the new facility will bolster Kenya’s digital ecosystem, expanding opportunities […]<\/p>\n","protected":false},"author":84,"featured_media":120250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12,7204],"tags":[6857,7003,544],"class_list":["post-120252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nRuto secures Sh63bn loan from South Korea - kenya<\/title>\n<meta name=\"description\" content=\"Kenya has secured $485 million (Sh63 billion) concessional development loan from the Republic of South Korea. 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