NAIROBI, Kenya Sept 7 – National Treasury Cabinet Secretary (CS) John Mbadi has inked a new deal with China Development Bank for the construction of 15 rural roads across the country.
CS John Mbadi, who accompanied President William Ruto during the Forum on China-Africa Cooperation (FOCAC) held in China, sealed the credit facility deal with Tan Jiong, President of the China Development Bank.
In a statement, the state department for foreign affairs revealed that the agreement was witnessed by Roads and Transport Cabinet Secretary Davis Chirchir and Principal Secretaries Chris Kiptoo and Joseph Mbugua from the National Treasury and Roads Ministry, respectively.
“CS John Mbadi signed a credit facility with Mr. Tan Jiong, President of China Development Bank, in Beijing to construct 15 rural roads across Kenya. This signing will strengthen our bilateral cooperation with the People’s Republic of China, “read the statement.
The National Treasury stated that the construction of the 15 rural roads across various parts of the country is set to stimulate economic activities in the underserved areas and create job opportunities.
“This signing is important because the government prioritizes rural roads development. This project will unlock opportunities for trade, improve market access, and enhance the quality of life for millions in underserved areas, marking a key step toward achieving Kenya’s Vision 2030 goals,” it added.
The project will further enhance rural connectivity and uplift the livelihoods of Kenyans across the country.
Additionally, PS Kiptoo and Wang Shaodan, Chairman of the China Africa Development Fund (CAD Fund), signed a Memorandum of Understanding to enhance cooperation under the Public-Private Partnership.
The agreement aims to support Kenya’s government policy in order to enable private sector participation in bilateral cooperation projects.
During the event, the China Development Bank agreed to expand the existing China Africa Development Fund office by opening a new office in Nairobi.
This expansion will be a key part of broader efforts to strengthen economic ties between Kenya and China.
“China Development Bank also agreed to expand the existing (CAD Fund) office to cover the Bank’s operations as they plan to open an office in Nairobi.”
