Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Kenya and Tanzania each will receive Sh967million in International Development Association (IDA) credits for project activities/file

Kenya

WB approves additional funds for L.Victoria basin management

Kenya and Tanzania each will receive Sh967million in International Development Association (IDA) credits for project activities/file

Kenya and Tanzania each will receive Sh967million in International Development Association (IDA) credits for project activities/file

NAIROBI, Kenya, Jun 3 – The World Bank has approved additional financing for the Lake Victoria Environmental Management Project Phase II to contribute to collaborative management of the Lake Victoria Basin.

The additional financing is also meant to improve the environmental management of targeted pollution hotspots and sub-catchments in the Basin.

The additional financing will boost the number of beneficiaries to 450,000, which is a 50 percent increase in the number under the current project.

Kenya and Tanzania each will receive Sh967million in International Development Association (IDA) credits for project activities.

The additional financing will help Kenya, Tanzania and regional project teams to support additional watershed management subprojects, construct or expand community sanitation and sewerage facilities, and strengthen cleaner production programs for industries with facilities in the Basin.

Lake Victoria is the world’s second largest freshwater body and is a shared natural resource, whose water, pollutants and fish stocks freely cross national boundaries of the five countries in the Basin (Burundi, Kenya, Rwanda, Tanzania and Uganda).

The Lake supports the world’s largest freshwater fishery with a total annual landed catch value estimated at around Sh48.3 billion.

“The Lake Victoria Environmental Management Project is generating a wide range of benefits, including enhancing the Basin’s economic growth, reducing poverty in riparian communities, fostering regional cooperation, and protecting the integrity of a delicate Basin ecosystem,” says Colin Bruce the World Bank Regional Integration Director for Africa.

The waters of the Lake and its catchment provide 90 percent of Uganda’s hydropower, most of the hydropower for Rwanda and Burundi, and the water supply to major urban centers including Kampala, Mwanza and Kisumu.

Yet the Lake Victoria Basin has also become a global example of environmental degradation brought on by overfishing, industrial and wastewater pollution and lax management of the natural resources in the Basin.

Advertisement. Scroll to continue reading.

The board’s approval will extend the project until 2017.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...