Kenya receives Worlds Bank loan for Nairobi infrastructure improvements
22 June 2012
Kenya has received a loan of Sh50.4 billion (£384.84 million) from the World Bank to help improve urban services and infrastructure in Nairobi in the coming years, Capital FM reports.
Among the uses for the money is the Nairobi Metropolitan Services Improvement Project, which will help develop the city's transport system.
Furthermore, around Sh5 billion will be put towards government infrastructure and Sh1.26 billion for institutional planning.
Finance minister Njeru Githae told the news provider that the money will be put to very good use and help local services.
"To prepare for the massive urbanisation, the Nairobi Metropolitan Services Improvement project will strengthen connectivity between centres of growth in the metropolitan region by preparing land use plans for surrounding areas of 13 commuter rail stations that are proposed for construction," he noted.
It comes after a loan agreement was made between the Kenyan and French governments earlier this month that will see significant electricity upgrades in the future.