Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

World Bank gives Kenya Sh16.2bn loan to support slum dwellers

NAIROBI, Kenya, Aug 10 – Kenya is set to receive a US$150 million -Sh16.2 billion – International Development Association Credit from the World Bank, to improve tenure security and access to basic services for 1.7 million residents living in selected urban informal settlements.

The funds will facilitate the second phase of the Kenya Informal Settlements Improvement Project (KISIP2), which World Bank Operations Manager and Acting Country Director for Kenya Camille Lampart Nuamah says will contribute to reducing infrastructure and services gap.

“Rapid urbanization and an increasing share of the poor living in urban areas has outpaced services and infrastructure provision, and this project will contribute to reducing this infrastructure and services gap,” said Nuamah.

The project will include titling to enhance tenure security and infrastructure upgrading for basic services, which includes roads, drainage, water, sanitation, street lighting and community facilities.

It will also include livelihoods support and community engagement to assess and address risks, including the impacts of COVID-19.

“The project will also cushion urban informal settlement residents who depend on daily earnings against the negative socio-economic impact of the COVID-19 pandemic,” Nuamah said.

In describing the impact of the project, World Bank says the project will improve access to basic services, such as clean and safe water; mobility within the informal settlements; access for emergency vehicles; and the resilience of communities in instances of disasters.

In addition, it will increase the connectivity of residents to socio-economic opportunities while the high-mast lights will enhance economic activities by reducing crime. 

The project’s special focus on socio-economic inclusion will help counter the immediate economic impact of COVID-19 by urgently linking vulnerable people of informal settlements to government programs aimed at reducing poverty and vulnerability.

Advertisement. Scroll to continue reading.

It will also link at-risk youth to programs focused on building skills and creating opportunities for employment and self-employment.  

“In the short run, the works related to upgrading roads will provide an important source of employment opportunities for unskilled, informal and vulnerable workers disproportionately affected by the economic impact of COVID-19,” said Sheila Kamunyori, World Bank Senior Urban Specialist and Task Team Leader. 

“The World Bank is keen to continue supporting the government’s effort to the ongoing Kazi Mtaani program in the subsequent phases to reach up to 200,000 youth across all 47 counties.” 

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...

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...

Headlines

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

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...