Economist Dr Fred Ogolla
A report by Trailblazers Business Strategies has indicated that Kenya stands to lose approximately Sh4.186 trillion in financial development aid from the US and the European Union if the proposed laws targeting LGBTQ+ persons are passed by parliament.
While launching the report on Monday October 9, Fred Ogolla said the government should also be ready to spend about Sh11 billion to implement the two proposed laws.
“It is my submission that President Ruto should sign these bills into law only if he has a concrete plan of where he is going to get the Ksh4.186 trillion: Ksh4.076 trillion for covering the foreign losses and Ksh11 billion for implementing the Bill,” said Ogola.
The economist explained that his team conducted an economic assessment study that reviewed all the existing trade partnerships and ongoing development aid arrangements that would immediately be affected if President Ruto approves the proposed Family Protection Bill.
According to the report, none of Kenya’s current trade and development aid agreements with the United States or the European Union include a direct requirement that the country legalise homosexuality; however, criminalising homosexuality will result in an immediate disruption of these arrangements because it will constitute direct violations of human rights.
Some of the losses highlighted by the report include: the US for humanitarian assistance to Kenya, European Union development aid, EU Humanitarian funding, EU disaster preparedness funding, IMF funding and Tourism Revenue.
The report comes days after a section of Kenyan faithful from the Muslim and Christian communities took to the streets of Nairobi on Friday to protest the Supreme Court judgment that affirmed the right of LGBTQ+ persons to form associations in Kenya.
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