Kenya and Japan have signed a Ksh22.1 billion ($171.31 million) financing agreement to support local vehicle assembly, reduce energy losses and fund the government’s reform and development agenda.
The Samurai financing facility, signed in Nairobi on June 22, will channel Ksh13.1 billion ($101.55 million) towards promoting local assembly of motor vehicles as part of Kenya’s automotive policy and efforts to create jobs. Another Ksh5 billion ($38.75 million) will fund programmes aimed at reducing energy losses and improving the reliability and affordability of electricity.
