NAIROBI, Kenya, Sept 7 \u2013 The National Treasury, led by Cabinet Secretary John Mbadi, has secured a new agreement with the China Development Bank to fund the construction of 15 rural roads across the country.<\/p>\n
CS Mbadi, who was part of President William Ruto\u2019s delegation at the Forum on China\u2013Africa Cooperation (FOCAC) in China, finalized the credit facility deal with Tan Jiong, President of the China Development Bank.<\/p>\n
In a statement, the State Department for Foreign Affairs confirmed that the agreement was witnessed by Roads and Transport Cabinet Secretary Davis Chirchir, alongside Principal Secretaries Chris Kiptoo and Joseph Mbugua from the National Treasury and the Ministry of Roads.<\/p>\n
\u201cCS John Mbadi signed a credit facility with Mr. Tan Jiong, President of China Development Bank, in Beijing to construct 15 rural roads across Kenya. This signing will strengthen our bilateral cooperation with the People\u2019s Republic of China,\u201d read the statement.<\/p>\n
The National Treasury emphasized that the construction of these rural roads will spur economic activity and create jobs in underserved areas.<\/p>\n
\u201cThis project is essential as the government prioritizes rural road development. It will unlock trade opportunities, improve market access, and enhance the quality of life for millions of Kenyans in these regions, contributing to the achievement of Vision 2030 goals,\u201d the Treasury added.<\/p>\n
The project is expected to enhance rural connectivity and significantly uplift the livelihoods of many Kenyans.<\/p>\n
Additionally, National Treasury Principal Secretary Chris Kiptoo and Wang Shaodan, Chairman of the China Africa Development Fund (CAD Fund), signed a Memorandum of Understanding (MoU) to boost cooperation under the Public-Private Partnership (PPP) framework. This agreement aims to encourage private sector participation in Kenya\u2019s bilateral cooperation projects.<\/p>\n
During the event, China Development Bank also committed to expanding the operations of the China Africa Development Fund by opening a new office in Nairobi. This move is part of broader efforts to deepen economic ties between Kenya and China.<\/p>","protected":false},"excerpt":{"rendered":"
NAIROBI, Kenya, Sept 7 \u2013 The National Treasury, led by Cabinet Secretary John Mbadi, has secured a new agreement with the China Development Bank to fund the construction of 15 rural roads across the country. CS Mbadi, who was part of President William Ruto\u2019s delegation at the Forum on China\u2013Africa Cooperation (FOCAC) in China, finalized […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-88424","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/88424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=88424"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/88424\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=88424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=88424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=88424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}