BUSINESSECONOMY

Kenya Eyes Ksh23B World Bank Loan to Spur Food Production

Share
Share

Kenya expects to receive $200 million (Ksh23 Billion) in loans from the World Bank to facilitate projects meant to boost the country’s food security.

The funds will be channeled towards projects across agriculture value chains.

World Bank Senior Agriculture Specialist  Vinay Kumar Vutukuru stated that they expected talks on the loan to be completed within the next two months and the credit approved.

“We are currently in talks with the government with a view to continue our support to the agriculture sector to enhance food production,” he stated.

At the moment, the World Bank funds agriculture projects in Kenya valued at $500 million (Sh56.8 billion).

READ>>World Bank 2021 Forecast: Kenya to be Fastest Growing Economy in Sub-Saharan Africa

Vutukuru spoke during a launch event for a five-year management strategy for migration and invasive pests and weeds. It was informed by the desert locust invasion of 2019 that wreaked havoc on farms across East Africa.

Agriculture CS Peter Munya whose docked was central to formulation of the strategy was among those present at the event. He highlighted lessons picked from the invasion and their importance going forward.

He cited seven priority pillars identified in the sttategy to enable a coordinated collaborative approach. The plan is anchored on the creation of a comprehensive pest management system.

“This ministry with the support of the Food and Agriculture Organisation and the World Bank spearheaded the development of the Strategy for Management of Migratory and Invasive Pests,” the CS stated.

FAO Deputy Director General Beth Bechool stated; “FAO is supportive of the Government plans to fully contain the desert locust and other migratory pests, management. Under the new strategies, various strategic interventions will be implemented including resource mobilisation and management, livelihood restoration and resilience mechanism among others.”

READ>>Kenya Gives up on Turkana Aquifer Dream

 

 

Written by
MARTIN SIELE -

Martin K.N Siele is the Content Lead at Business Today. He is also a Quartz contributor and a 2021 Baraza Media Lab-Fringe Graph Data Storytelling Fellow. Passionate about digital media, sports and entertainment, Siele also founded Loud.co.ke

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow Us

Related Articles
Adewele Adedeji - CEO of Datamellon
BUSINESSTECHNOLOGY

AI Innovation Summit Urges Businesses to Embrace AI for Efficiency and Growth

Business leaders must integrate artificial intelligence (AI) into their operations to drive...

BUSINESSMEDIA

Glass House PR Founder Mary Njoki Picked to Judge Global Public Relations Awards

Glass House PR Limited Founder and CEO, Ms Mary Njoki, has joined...

Africa Tech Summit Award Winners 2025
BUSINESSTECHNOLOGY

 Africa Tech Summit Awards 2025 Winners Announced

Africa Tech Summit Awards 2005 organisers have announced this year's winners, recognising...

Equity Leadership Program 2025
BUSINESSNEWS

Joining Equity Leadership Program, KCSE Top Performers Share Inspiring Stories

Equity Group Foundation has announced the selection of 750 top secondary school...