Mbadi
National Treasury Cabinet Secretary John Mbadi has signed a new agreement with the China Development Bank for the development of 15 rural roads throughout the country.
CS John Mbadi, who accompanied President William Ruto to the Forum on China-Africa Cooperation (FOCAC) in China, signed the credit facility agreement with Tan Jiong, President of the China Development Bank.
According to a release from the State Department of Foreign Affairs, the agreement was witnessed by Roads and Transport Cabinet Secretary Davis Chirchir, as well as Principal Secretaries Chris Kiptoo and Joseph Mbugua from the National Treasury and Roads Ministry.
“CS John Mbadi signed a credit facility with Mr. Tan Jiong, President of China Development Bank, in Beijing to build 15 rural roads in Kenya. This agreement will improve our bilateral cooperation with the People’s Republic of China, according to the statement.
The National Treasury claimed that the construction of 15 rural roads across the country is expected to boost economic activity in underdeveloped areas and create job opportunities.
“This agreement is significant because the government prioritizes rural road building. This project would increase trade opportunities, boost market access, and improve the quality of life for millions of people in underserved areas, taking a significant step towards Kenya’s Vision 2030 goals,” it stated.
PS Kiptoo and Wang Shaodan, Chairman of the China Africa Development Fund (CAD Fund), also signed a Memorandum of Understanding to strengthen cooperation under the Public-Private Partnership.
This comes days after Kenya formally joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member.
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