Treasury Cabinet Secretary John Mbadi has signed an MOU with the President of China Development Bank, Tan Jiong, to construct 15 rural roads across Kenya.
In a statement on Wednesday, September 6, Mbadi said these roads will boost economic activities, create jobs, and improve access to essential services in the rural areas.
He said the project is aimed at enhancing rural connectivity, enhancing economic growth, and uplifting livelihoods across the country.
"Today's signing is important because the government prioritises rural roads development. This project will unlock opportunities for trade, improve market access, & enhance the quality of life for millions in underserved areas, marking a key step toward achieving Kenya’s Vision 2030 goals," said Mbadi.The signing of the said MOU in Beijing, China, was witnessed by Roads and Transport Cabinet Secretary Davis Chirchir, Treasury PS Chris Kiptoo, engineer Joseph Mbugua among other senior officials.
At the same time, Treasury PS Kiptoo and Wang Shaodan, the chairman of the China Africa Development Fund, signed an MoU to enhance cooperation through the Public Private Partnership model, supporting Kenya’s policy to boost private sector involvement in bilateral development projects.
The MoU is expected to encourage more Chinese companies to invest in Kenya’s infrastructure projects, utilising the PPP financing framework.
This partnership will play a critical role in supporting long-term investments in key sectors, enhancing Kenya’s development agenda.
During the event, China Development Bank agreed to expand the existing China Africa Development Fund office by opening a new office in Nairobi.
This expansion will be a key part of broader efforts to strengthen economic ties between Kenya and China.
