African Development Bank is to provide sh.53 billion Aid to improve infrastructure along Mombasa, Nairobi and Addis Ababa and help Kenya expand her electricity network.
This will help to support the region deliver better outcome, strengthen the performance culture and attract and retain talents.
The resources will also help to streamline business processes to promote efficiency and effectiveness and financial performance by the end of 2025.
The AFDB East African Director General Gabriel Negatu said the bank had helped to expand African markets especially Kenya by linking public and private sectors.
AFDB has helped Kenya to increase quality of service and transformation of its economy, said Negatu.
Negatu spoke during the opening of a three day business opportunity seminar at a Nairobi hotel.
The seminar attracted key players in the East Africa’s private sector expected to benefit from business opportunities arising from the Bank Group’s Financing.
The bank is focusing on an action plan to curb hunger and malnutrition in the East Africa region by 2025.
The giant financial institution also plans to increase the market value for processed commodities in the region by 40 percent.
At the seminar, AfDB Resource Mobilization and Partnership manager Valarie Dabady said the bank has invested in expansion of the infrastructure for faster and effective transportation to boost business and industrial growth.
Our aim is to make sure everyone has the same understanding of the business market ,pipelining of opportunities needed for execution knowhow and come up with projects to introduce our partners to a lifelong friendship with the bank, added Dabady.
Source: Kenya News Agency