India to give Kenya Sh10b loan

November 18, 2010
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, NAIROBI, Kenya, Nov 18 – Prime Minister Raila Odinga has confirmed that the government of Indian  had ratified a Sh10 billion loan to Kenya, for the circulation of power transmission lines across the country.

He said the funds which were approved for disbursement in two phases would be used to expand the power network coverage as the nation gears up to realise her development goals.

Mr Odinga who arrived in the country on Wednesday evening after a four-day tour of the Asian country told a press briefing at the Jomo Kenyatta International Airport that his mission was fruitful.

He said Indian investors expressed interest in the Kenyan market during a meeting with the business community and announced plans to double direct flights between the two nations in the near future.

“We are optimistic that the authorities will grant our local carrier Kenya airways (consent) to increase flights to New Delhi from the current seven to 14 times in a week” the Premier said.

He also made known that a Kenyan Chancery may soon be opened in New Delhi to cement the bilateral linkages the two countries anticipated under the new found partnership.

Mr Odinga who attended the world Economic Forum Conference said the Indian government reaffirmed her commitment to help weed out the pirates menace along the Gulf of Eden.

He said talks at the conference highlighted the shift and restructuring of global financial dynamics as some emerging economies in the East make their presence in the world market at the expense of the West.

The PM said the discussions focused on the emerging economic powers like India, China and Brazil whose influence in the global circuit appears to cause an upset in a market that was widely monopolised by the Developed nations from the west.

On local matters, The Premier said the row over the demarcation of new constituency boundaries was inevitable since such a task could easily provoke condemnation from some political quarters with vested interest.

He likened the raging debate over the boundary issue to “a storm in a cup of tea” and assured Kenyans that the matter would be sorted out amicably in due course.
 

http://www.youtube.com/watch?v=3WNEaY9BU2M

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