Prime Minister of the UK Rishi Sunak and President William Ruto have struck a strategic partnership aimed at delivery of the COP26 commitments.
The five-year partnership will see the UK advance six projects agreed on to boost Kenya’s leadership on climate change, a deal worth sh500 billion.
This is after UK prime minister lauded Mr. Ruto for his commitment to averting the climate crisis that he says keeps claiming the lives of citizens all around the nation and globally.
This was arrived at, after President William Ruto and UK Prime Minister Rishi Sunak held talks on Monday at the COP27 meeting in Sharm-el-Sheik, Egypt.
Some of the projects include; the Malindi Solar Expansion project and the Menengai Geothermal project.
The Sh425 billion Grand High Falls Dam project is a Public Private Partnership (PPP) that is expected to generate 1000 megawatts of hydroelectric energy power and irrigation for approximately 400,000 hectares of land.
The Nairobi Railway City project is also among the six. It is a green regeneration of central Nairobi, anchored around a new central rail station and connected to the Bus Rapid Transit (BRT).
The United Green will be situated in Kisumu for the Lake Victoria region.
The project is expected to create 2,000 job opportunities and boost 20,000 farmers.
The president and Mr. Sunak also agreed that the UK is to launch a Guarantee company that will de-risk investments, through collaboration with CPF Financial Services and other private investors. whereby the UK pledged Sh2 billion for the company. It is expected to generate Sh12 billion over the next three years.
Its believed that through these investments there will be strengthened bilateral ties between the two states, promoting the five-year agreement of the UK- Kenya Strategic Partnership.
British High Commissioner to Kenya Jane Marriott, said the investment and partnership will promote the interest of both countries.
“The UK and Kenya go far when we go together. By fast-tracking finance into these clean, green projects with honest, reliable investment the UK is supporting Kenya to advance and maintain its continent-leading climate credentials – with mutual benefits for both our countries,” she said.
Since COP26 was held in 2021 Glasgow in Scotland, the UK has committed to supporting nations across Africa to deliver on the agreements to fulfill the global pact set.
The indulgence has seen the UK commit Sh751 million (£5.4m) to Kenya, of which Sh389 million (£2.8m) will be spent to support the country’s energy transition.
