Connect with us

Hi, what are you looking for?

top
The government has committed to ensure 500,000 houses are constructed by end of 2022 as part of the affordable housing project.

business

Treasury allocates Sh13.9bn for affordable housing project

NAIROBI, Kenya, Jun 10-The National Treasury has allocated Sh13.9 billion for the affordable housing project for the financial year 2021/2022.

Cabinet Secretary Ukur Yatani while presenting the new spending plan said the funds will help in addressing the housing challenge, particularly in urban areas.

“The urban area has continued to face the housing problem and to ensure the success of this initiative, I have proposed an allocation of Sh13.9 billion for the affordable housing project,” said Yatani.

Of the proposed allocation, Sh3.5 billion will go to the Kenya Mortgage Refinance Company, Sh8.2 billion for construction of affordable housing units, Sh500 million for social housing units.

“ The proposed allocations include Sh7 billion to Kenya Affordable Housing Project Sh500 million construction of Social Housing Units; Sh3.5 billion to Kenya Informal Settlement Improvement Project – Phase II; Sh750.0 million for the Housing Units for National Po-lice and Kenya Prisons; and Sh1.0 billion for construction of markets,” he added.

The sector has come under sharp criticism for failing to put in place proper measures to deliver the 500,000 housing units by 2022 as promised by President’s Uhuru Kenyatta despite massive funds allocations.

Comments
Advertisement

More on Capital News

World

Trump said on social media he was in the offices of New York Attorney General Letitia James, whose investigation is one of several active...

World

Eldoret (Kenya) (AFP), Aug 10 – Kenyans on Wednesday were waiting for the results of the country’s presidential election after a largely peaceful poll,...

August Elections

NAIROBI, Kenya, Aug 10 – Lawyer Nelson Havi who was vying for the Westlands Parliamentary seat has conceded defeat after preliminary results showed the incumbent...

2022 ELECTIONS

The lawmaker did not however identify who he was conceding to although a provisional tally showed the United Democratic Alliance's Njoroge Wainaina was poised...

August Elections

NAIROBI, Kenya, Aug 10 – Kenya is on tenterhooks as it awaits results from Tuesday’s election, which passed off relatively smoothly despite some issues...

2022 ELECTIONS

Kibiru was eyeing the Kirinyaga governor seat in a bid to unseat incumbent Anne Waiguru while Kabando sought to replace Nyeri Senator Ephraim Maina...

August Elections

NAIROBI, Kenya, Aug 10 – The presidential tallying of votes in the national tallying centre at the Bomas of Kenya is yet to commence...

August Elections

NAIROBI, Kenya, Aug 10 – Independent Electoral and Boundaries Commission (IEBC) Chairman Wafula Chebukati says final presidential results will be announced as soon as...