Ruto: Kenya to receive Sh13.9bn loan from Italian government

The amount, Ruto said will be in form of grants and soft loans to cover projects

In Summary
  • He spoke during a joint press brief following a meeting with Italian Head of State Sergio Mattarella at State House.
  • Mattarella is in Kenya for talks aimed at strengthening cooperation between the two countries.
President William Ruto at State House Nairobi
President William Ruto at State House Nairobi
Image: PCS

President William Ruto has said that his administration will receive up to Sh13,905,210,450 from the Italian government. 

The amount, Ruto said will be in form of grants and soft loans to cover projects in the country, such as agriculture, development of MSMEs, housing and urban settlements and health.

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"Other projects include the digital superhighway and the creative economy," he said. 

Speaking during a joint press brief following a meeting with Italian Head of State Sergio Mattarella at State House, Ruto said the projects will be done through the Kenya-Italy Multi annual five-year cooperation strategy on sustainable development. 

"We committed to cooperate in enhancing our informal settlements redevelopment program launched by both counties," he said.

Mattarella is in Kenya for talks aimed at strengthening cooperation between the two countries.

He arrived on Monday evening for a four-day official visit.

The talks between the two leaders are also centred on enhancing trade and investment opportunities between the two countries.

“The visit will help promote the development of key sectors such as water, agriculture, and tourism in the country,” Foreign Affairs Cabinet Secretary Alfred Mutua said in a statement.

It is during their bilateral engagement that several memorandums of understanding (MoUs) were signed.

The relations between Italy and Kenya have continued to deepen over the years.

This is a result of the increase in the level of commercial exchanges and the growing interest of Italian enterprises with an eye on investing in the country.

Ruto recently committed to providing an Italian energy firm firm-Eni Spa up to 300,000 acres of land in some marginal areas in the country for the production of biofuels.

President William Ruto at State House Nairobi
President William Ruto at State House Nairobi
Image: PCS
President William Ruto at State House Nairobi
President William Ruto at State House Nairobi
Image: PCS
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