Treasury seeks Ksh1.1 trillion to finance Big 4 agenda
The National Treasury is now eyeing private financing to fund President Uhuru Kenyatta’s projects valued at Ksh1.1 trillion.
Treasury is betting on the public-private partnership (PPP) to finance one-third of President Kenyatta’s projects.
During the 2020 Budget Policy Statement tabled before Parliament by Treasury Cabinet Secretary Ukur Yatani last week, the government sought to allocate funding for 80 projects in the next Financial Year.
“The estimated value of these projects is USD11, 422 million (Ksh1.1 trillion).” Said Yatani.
According to Yatani, the funding will cut across various sectors of the economy including Health, Transport and infrastructure, energy and education.
Procurement of road projects for second Nyali Bridge, the Nairobi Nakuru Mau Summit road and the maintenance of Thika Super Highway, Nairobi Southern Bypass and Nairobi Mombasa Highway is underway and ready for tendering.
Besides, the Ksh65 billion Kenya’s first double-decker Nairobi-James Gichuru Expressway has also been signed by the government.
A total of 233 kilometres of road projects have already been tendered in Ugunja, Kakamega, Kilgoris, Kehencha and Turbo.
In the Health sector, Kenyatta National Hospital is seeking an investor to build a new, 300-bed private hospital in Nairobi. The project will sit on a five acres land with access to Mbagathi and Hospital roads. The investor would run the private facility for 30 years.
In the current Financial Year 2019/20, big 4 agenda received a boost when it was allocated funding to the tune of Ksh450 billion with the health programme being allocated Ksh48 billion.
Affordable housing pillar was allocated Kshh10.5 billion to cater for the construction of affordable housing units in the country.
According to the then Treasury CS Henry Rotich, part of the units was meant to go into factoring the demands of the police who have over time lived in deplorable conditions in the country.