World Bank approves $35m fund for Kenya sustainability project
28 July 2010
Funds from the World Bank will aid Kenya in protecting its waters and promoting sustainability.
A sum of $35 million (£22.42 million) has been approved by the organisation, which gave the go-ahead to the Kenya Coastal Development Project and approved a $5 million Global Environment Facility grant.
The finance will enable the country to work on the environmentally sustainable management of its coasts and waters, as well as promoting conservation efforts.
Johannes Zutt, country director for Kenya, said: "This project will help to increase economic opportunities for coastal communities by promoting environmentally sustainable tourism and fisheries, equitable sharing of tourism and fisheries revenues."
He explained it will also allow for better investment in small, local businesses in Kenya.
In addition, Kenya will see a number of renewable energy projects implemented, after the World Bank revealed it was among the nations targeted by the Climate Investment Funds for development in this area.