Big Four Agenda gets 11.7b German boost

By Joseph Nga’nga’

Kenya News Agency

Kenya and Germany in December signed bilateral fundingagreements of over Sh11.7billion to be used to fund the Big Four Agenda projects.

The projects fall under the broad themes of like irrigation, food security, health andtechnical training are expected to prepare Kenya foran economic left-off by 2022.

Speaking at the signing of the agreements, Treasury Cabinet Secretary Henry Rotichrecalled that, since 1961,technical and financial assistance from Germany to Kenyahas grossed Sh240 billion.

The have been used to bolster good governance, agriculture, food security, droughtmitigation programmes, water development, education,energy, youth employment andtechnical training.

The cabinet secretary pledged that the government wouldensure the money is usedfor the intended programmes.

“The money available in the Kenya-Germany development cooperation for the comingperiod amounts to over euros 62 million new commitment consisting of euros 39.9million as loans, euro7 million grants for financial cooperation and euros16.1 milliongrants for technical cooperation.

The areas of focus aretechnical and vocationaleducation and training(euros35.9 million), agriculture (euros23.1 million) and goodgovernance (euros3 million),”explained Rotich.

Rotich said that they have had negotiations on development cooperation programmesfor the next two years with Germany and other development partners which addresseddelays on releasing funds, work permits, low absorption rate.

On the planned merger between NIC bank and Commercial Bankof Africa the CS saidit was a welcome move since it was a voluntary merger.

He observed that Treasury hasbeen advocating for bank mergers to enable the countytohave strong banks that canlend to Small and medium-sized enterprises.

“We are not big players in the African banking industryand such mergers will ensurewe have local banks that can compete on the continent,”said Rotich.

German ambassador in Kenya Annett Gunther said her government was committed tostrengthening TVET by establishing three centers of excellence and hubs for youngentrepreneurs aimed at empowering the youth, besides creating employment for them.

“In order to promote good governance Germany offers Kenyasupport on Ant-corruption policies as well as the implementation of the UN agenda 2030,”she said.

Germany also committed to assisting refugee hosting communities in Kakuma andKalobeyei as well helping Somalia to stabilie and thusreduce the refugee burden onKenya

Print Edition

<-- -->