Humanitarian Development Program - Kenya gets $190 million for Nairobi-Thika highway


Kenya gets $190 million for Nairobi-Thika highway (23/11/07)


In line with its growing emphasis on infrastructure development, the African Development Bank (AfDB) Group will support the improvement of the Nairobi-Thika highway project in Kenya following the approval of a loan and a grant totaling 121 million Units of Account (UA*) equivalent to US$ 190.2 million, by the Board of Directors of the African Development Fund (ADF), the concessional window of the Bank Group, in Tunis.

		The loan of 117.85 million UA (US$185.25 million) and grant of 3.15 UA (US$4.95 million) will be used to finance the entire foreign currency and part of the local currency costs of the road improvement project. The project aims at improving road transport services along the Nairobi-Thika corridor and enhancing urban mobility within the metropolitan area by reducing traffic congestion.
It will contribute to the development of a sustainable urban public transit system for the Nairobi Metropolitan Area as well as promote private sector participation in the management, operation, and financing of road infrastructure in Kenya. The overall goal of the project is to improve the accessibility, affordability, and reliability of the transport infrastructure system in order to promote economic growth and socio-economic development in Kenya as well as contribute to regional integration in the eastern and horn of Africa regions. Source: African Development Bank To receive regular email alerts, contact us at updates@developmentprogram.org Click here for Newsletter Archive

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