SHARM EL-SHEIKH, Egypt, Nov 10 – The United Kingdom will fast-track new green investments in the country.
Prime Minister Rishi Sunak said his Government was keen on using the 2022 United Nations Climate Change Conference (COP27) to deepen the British investment partnership with Kenya.
Some of the investments, he explained, include the Malindi Solar Expansion, Menengai Geothermal, Grand High Falls Dam, Nairobi Railway City, among others.
He spoke on Monday in Sharm El-Sheikh, Egypt, when held bilateral talks with President William Ruto.
Mr Sunak recognised Kenya for pioneering climate leadership.
He said the UK Government will commit Sh2 billion to a new guarantee company that will lower investment risk and unlock Sh12 billion of climate finance for Kenyan projects over the next three years through private investors.
The Prime Minister pledged to further support the country in advancing regional peace and security.
“We will extend every support to Kenya to ensure it plays this role successfully,” he told President Ruto.
President Ruto said Kenya was determined to furthering cooperation with the UK, particularly in the areas of security in the Horn of Africa, energy, agriculture and infrastructure.
Earlier, the President met the African Development Bank (AfDB) President Akinwumi Adesina where the bank committed to support Kenya’s clean green energy projects.
“AfDB is an important partner in our transformation agenda,” he noted.
President Ruto also witnessed the signing of an agreement with Fortescue Future Industries to fast-track the development of affordable green fertiliser.
He said the move furthers Kenya’s green energy transition and “will help reduce our reliance on imports, check the high cost of fertiliser and boost food production.”
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