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Friday, 18 December 2015

40BILLION KENYA CHINA DEAL WOW!

President Uhuru looks on as National Treasury Cabinet Secretary Henry Rotich and Chinese Minister for Commerce Gao Hucheng stike adeal
Kenya has inked several mouthwatering bilateral trade agreements and other goodies in grants and loans amounting to over Sh40 billion on the sidelines of the 10th World Trade Organisation Ministerial Conference in Nairobi.
The three-day top decision making organ of the organisation, has been going on in Nairobi from Tuesday this week and ended on Friday. It has attracted over 6,000 delegates.
On Wednesday this week President Uhuru Kenyatta witnessed the signing of three agreements in which China will extend Sh15.241 billion support to Kenya.
The agreements were signed by National Treasury Cabinet Secretary Henry Rotich and Chinese Minister for Commerce Gao Hucheng.
They were on a Sh10.358 billion concession loan for the implementation of the national optic fibre backbone infrastructure extension project phase two, Sh4.781 billion grant for the construction of the Ministry of Foreign Affairs headquarters and a certificate of acceptance for a $1 million (Sh102 million) grant to support Kenya in hosting the World Trade Organisation meeting.
PROTECT WILDLIFE
During the meeting President Kenyatta said Kenya was keen on using the grants and interest-free loans provided by China in the modernisation of health equipment and hospitals across the country as well as construction of stadia for the use by young people.
Mr Gao said in addition to supporting Kenya in energy, infrastructure, agriculture, education and health, china was also keen to help protect Kenya’s wildlife.
Separately, Kenya received Sh15 billion support from the Danish government to expand infrastructure and increase efficiency at Mombasa, port.
The Danish Minister for Foreign Affairs Kristian Jensen toured the port and was satisfied that the funding of his government through Trade Mark East Africa Company in the past had a positive impact along the northern corridor.
The “Kenya country programme” will begin in January and is divided into good governance, green growth and employment, and health.
Mr Jensen said governance will receive Sh3.5 billion, green growth and employment Sh7.5 billion and health Sh4 billion.
At the same time, Canada announced a Sh2 billion fund to provide training for the small businesses in Kenya. Canadian Minister of International Trade Minister Chrystia Freeland made the announcement on the sidelines of the Ministerial Conference.
“By equipping Kenyan entrepreneurs, especially women and youth, with tools to start and run their businesses, we are bringing about positive change in their homes and communities,” Mr Freeland said.
PROMISE ON COFFEE
Mr Freeland said Canada is contributing Sh1.95 billion ($19.5 million) over seven years, until 2021.
Kenya was also promised continued support by the European Union with regard to its cof

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