The National Treasury has held talks with the China Development Bank (CDB) as Kenya seeks additional funding for infrastructure projects, including roads, water and connectivity initiatives.

🇰🇪 Breaking It Down

Treasury Principal Secretary Chris Kiptoo met CDB Executive Vice President Wang Peng at the bank’s headquarters in Beijing on Tuesday, September 15, to review projects already supported by the Chinese lender and explore opportunities for expanded cooperation.

In a statement obtained by Kenyans.co.ke , Kiptoo said the talks focused on mobilising additional funding for projects aimed at improving connectivity and supporting economic activity, with the talks coming as Kenya plans at least three new expressway projects.

“Held discussions with Mr. Wang Peng, Executive Vice President of China Development Bank, at the CDB Headquarters in Beijing, where we reviewed ongoing projects and explored opportunities to broaden our cooperation,” he wrote.

📌 What You Need to Know

The discussions also went beyond roads and other physical infrastructure to cover small and medium-sized businesses, digital development, manufacturing and tourism.

“We also welcomed CDB’s interest in supporting other key areas, including SME development, digital transformation, manufacturing and tourism promotion,” Kiptoo added.

Water and Sanitation PS Julius Korir, who also attended the meeting, said the discussions also explored expanding support for water harvesting and supply infrastructure, including potential financing for projects such as the Keben Dam Water Supply Project.

Kenya has previously relied on CDB financing to support its road development programme, with the lender helping advance projects that had stalled.

The latest engagement with the bank adds to a series of efforts by the government to secure Chinese and other international financing for infrastructure development.

It comes days after Prime Cabinet Secretary Musalia Mudavadi said on September 11 that Kenya was pursuing fresh financing from the China-based Asian Infrastructure Investment Bank (AIIB).

📰 Source: Kenyans.co.ke