Kenya Signs Kshs35 Billion Loan Agreement With Germany for Youth

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Kenya Signs Kshs35 Billion Loan Agreement With Germany for Youth

Kenya and Germany have signed a Kshs35 Billion loan agreement which will go towards the financing of various projects in the country, with most emphasis placed on the youth.

According to the Treasury Cabinet Secretary, Henry Rotich, the funds are meant for projects under the Big 4 Agenda, which would provide technical skills to youth, women, and people with disabilities.

In doing so, Germany also promised to support Kenya in matters of good governance, decentralization, agriculture, irrigation, energy, health and climate change. 

The Kenyan government, the private sector and development stakeholders all agreed that the majority of the population consisted of the youth.

Kenyan money

They pointed out that the youth needed to have more employment opportunities availed to them. 

The deal between the two countries is a culmination of long-overdue negotiations, that would enable citizens to have access to previous and new German programs in the country.

In June, Mount Kenya University signed an agreement with Bonn–Rhein-Sieg University of Germany, which saw the two institutions cooperate in teaching, research, development and other areas.

Mt Kenya and Kenyatta Universities, were the only two African institutions in the four-year-long project.

The project was to be cascaded to other universities in Kenya and Africa in general.

Similarly in July, while bidding farewell to the outgoing German Ambassador to Kenya, Ms Jutta Frasch, President Uhuru Kenyatta, appreciated the support given by Berlin particularly in areas of the economy and governance.

President Uhuru Kenyatta bids farewell to outgoing German Ambassador to Kenya, Ms Jutta Frasch

Other funds that Kenya would benefit from the cooperation includes a Kshs4.5 Billion loan and a Kshs884 Million grant.
 

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