No change in relations with Kenya – WB

March 14, 2013
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Kenya's World Bank Director Johannes Zutt said politics will not in any way interfere with its relation with Kenya allaying fears of financial sanctions by the bank or even related financiers/FILE
Kenya’s World Bank Director Johannes Zutt said politics will not in any way interfere with its relation with Kenya allaying fears of financial sanctions by the bank or even related financiers/FILE
NAIROBI, Kenya, Mar 14 – The World Bank has assured that it will continue with its financial support to Kenya even after the assumption to office of a new government.

Kenya’s World Bank Director Johannes Zutt said politics will not in any way interfere with its relation with Kenya allaying fears of financial sanctions by the bank or even related financiers.

His sentiments follow numerous comments before and after the March 4 polls that international donors were to pull back if President-elect Uhuru Kenyatta and his Deputy William Ruto take over leadership due to criminal cases they’re facing at the International Criminal Court (ICC).

“In general the World Bank remains bullish on Kenya and East Africa. This is the strongest growing region in the world today; lots of things are being done the right way and we are confident that the economy will continue to grow,” Zutt said during an energy partial risk signing agreement at the Treasury on Thursday.

Zutt said Kenya is now the centre of focus by many international investors especially after having what he termed as the most peaceful elections ever.

Finance Minister Njeru Githae said he had not received any cancellation of pledged funding by any international donor and was confident that the new government will continued to have good relation with them.

“If you are talking of international community, which international community is bigger than the World Bank? If they have even come today to sign an agreement with us, and two more are coming, I don’t think you can get another better mark of confidence than that,” Githae emphasised.

He was optimistic of increase in local investor confidence as well, following the peaceful elections. The World Bank signed a Sh3.7 billion partial risk guarantee for Gulf Power Limited.

Gulf Power Limited, an independent power producer, signed a purchase power agreement with the Kenya Power, for the latter to purchase and distribute electricity generated by Gulf Power.

“We are firmly convinced that no country can achieve a middle income status without reliable and affordable energy,” Zutt said.

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