Kenya secures 229 mln USD loan from AfDB for key road project

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Kenya secures 229 mln USD loan from AfDB for key road project

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Kenya secures 229 mln USD loan from AfDB for key road project

The African Development Bank Group (AfDB) said on Friday it has approved 23 billion shillings (229 million U.S. dollar) loan to fund the expansion of a highway that links major economic hubs in Kenya.

The lender said the five-year project will convert the 84km Kenol-Sagana-Marua road in central and eastern Kenya from a two-way single carriageway into a dual bypass and is due for completion in 2025.

“The project is part of broader government efforts to improve the country’s infrastructure, including the construction of 1,304 km of new roads in recent years,” AfDB said in a statement issued in Nairobi.

The new road which will enhance traffic flow between the port city of Mombasa and major centers like Nairobi will also ease transport between Nairobi and the Mount Kenya region, and ultimately Ethiopia.

The total project cost is 283 million dollars, of which 195 million dollars, or 69 percent of the total, will be financed by AfDB, while 12 percent will come from the Africa Growing Together Fund, set up by the Bank and China in 2014. The remaining 19 percent will be financed by the Kenyan government.

The current Kenol-Sagana-Marua Road is situated along the “Great North Road”, which forms part of the 800km stretch between Nairobi and Moyale and runs across the five counties of Muranga, Kirinyaga, Machakos, Embu and Nyeri.

Kenol-Sagana-Marua Road is also part of the Trans-Africa Highway, commonly known as the Cape to Cairo route.

According to a project report, about 1.15 million people will benefit from the upgraded highway and some of the beneficiaries are producers, manufacturers and traders, who will save time and money, thanks to improved access on the main corridor to the north.

Source:https://www.afdb.org/

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Kenya secures 229 mln USD loan from AfDB for key road project Reviewed by on October 5, 2019 .

Kenya secures 229 mln USD loan from AfDB for key road project The African Development Bank Group (AfDB) said on Friday it has approved 23 billion shillings (229 million U.S. dollar) loan to fund the expansion of a highway that links major economic hubs in Kenya. The lender said the five-year project will convert the

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