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Growth and human development in Kenya: adoption of a new five-year plan by the AfDB

08/02/2024
Source : ORISHAS FINANCE
Categories: Rate

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The Country Strategy Paper 2024-2028 for Kenya was adopted in December 2023 by the Board of Directors of the African Development Bank Group in Abidjan.

Through the country strategy document 2024-2028, the AfDB believes in stimulating private-sector-led growth through infrastructure development and strategic reforms. and develop human capital. Under this new Document, the Bank's support will be selectively focused on four sectors: transport, water, economic governance and skills development.

The Bank will also consider financing operations in the energy sector to support private sector development and reduce business costs. Several results are expected. These include the improvement of transit times for public service vehicles from 40 kilometers per hour in 2022 to 60 kilometers per hour in 2028, but also the reduction in transport costs from 0.85 to 0.50 dollars per vehicle per kilometer, and the increase in water treatment capacity by the industrial sector from 1,000 m3 per day in 2022 to 6,000 m3/day in

2028.
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