DP Ruto Secures Ksh10 Billion Loan from World Bank

May 21, 2019

The government has secured a Ksh.10.7 billion loan from World Bank to boost water projects in Coastal counties.

DP William Ruto on Tuesday inked the deal for the project – Counties Participation Agreements – at his residence in Karen. The project will benefit Coastal counties of Mombasa, Kilifi, Taita Taveta and Kwale.

Mombasa County will receive the lion’s share(Ksh.3 billion) followed by Kilifi County(Ksh.2.7 billion). Taita Taveta and Kwale Counties will each get Ksh.2.5 billion.

Speaking during the signing of a Memorandum of Understanding (MoU), Dr Ruto said the national government will repay the money.

“Of the Ksh.10.7B that will be disbursed under this program, Ksh.7.3B will be in form of loan and Ksh.3.3B will be in form of a grant to these counties,” said Ruto.

Adding, “Even when we talk of grant, it is a grant to the counties but the national government will pay for these resources to the world bank.”

DP Ruto further stated that every single cent of the amount must be accounted for.

“It is our expectation that every cent must be spent only for the purposes for which it has been earmarked. We will be careful to look out for value for money,” said Ruto.

“It is our expectation that the Kenyan people who will repay this money will get value for every shilling that will be spent,” he added.

Governors Granton Samboja (Taita Taveta), Salim Mvurya (Kwale), Amason Kingi (Kilifi) were present during the signing of the agreement.

Mombasa Governor Joho is said to have been away attending another meeting.

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