The Ministry of finance of Kenya recently said that in order to promote economic recovery and strengthen sustainable development, the Kenyan government has re planned the priority industries of the government social capital cooperation (PPP) model, including port, highway, power transmission, urban development, medical and health care, housing, affordable housing, water supply and public health facilities and blue economy.
The Ministry of Finance said that the PPP project aims to release at least KSHS 350 billion of new development capital for these priority sectors in the next 12 months. In addition, climate protection has also become an important part of the PPP project design as the implementation of the government’s commitment to environmental and social sustainability.
It is understood that the Kenyan government promulgated the PPP law in 2013 to take the PPP model as an important mechanism to solve the infrastructure funding gap under the background of limited financial space and increasing demand for public expenditure. At present, a total of 45 PPP projects are being implemented or operated in Kenya, including 6 road projects and 39 power generation projects. In order to speed up the implementation of PPP projects, the Kenyan government promulgated a new PPP law in early December this year, simplifying administrative procedures and balancing financing risks.
(Xinhua Finance)
