The World Bank recently commended Kenya’s developmental projects. Here’s why
The World Bank has commended Kenya for the successful implementation of various multi-billion shilling projects under the financial institution’s watch.
In fiscal year 2015, the World Bank extended Sh439 billion ($4.3 billion) to Kenya to fund 27 projects in various sectors for the first time in the country’s history. The projects ranged from hard infrastructure (roads and energy) to human development (health and community development) to managing climate risk (agriculture and coastal management) to strengthening institutions delivering public services (judicial reform).
According to the Taking Stock Report released by the World Bank late last year, the projects were monitored at least every six months by the World Bank and government teams based on two key indicators; implantation progress and meeting development objectives. Recognised projects include:
Reconstruction of the Jomo Kenyatta International Airport
The World Bank approved a Sh17.5 billion ($203.5 million) loan towards the reconstruction of Kenya’s Jomo Kenyatta International Airport (JKIA) arrivals terminal which was destroyed by a fire disaster in the summer of 2013. JKIA is the busiest international airport in East Africa with a schedule of more than 40 international flights, serving as a major cargo carrier for the exportation of produce. The reconstruction expanded the airport’s international terminals thus increasing movement of people, goods and capital in the region.
Repairs on Northern Terminal Road between Mombasa and Nairobi
The repair on 380 kilometres of critical sections of the Northern Corridor between Mombasa and Nairobi is the biggest infrastructure project in Kenya since its independence. The reconstruction of the road has helped reduced transit time between the two cities from 11 to 8 hours and lowered the cost of transport to drive business growth, freight trains has also been able to complete the journey in less than 8 hours.
However, the World Bank advised Kenya to adhere to international safety standards in order to address environmental and social issues and also work on releasing government funds on time to match up the bank’s financing for projects shared in public private partnership model.
The post The World Bank recently commended Kenya’s developmental projects. Here’s why appeared first on Ventures Africa.