Sakaja eyes millions from the African Development Bank to fund projects
Nairobi City County Governor Johnson Sakaja has confirmed plans to secure financial resources from the African Development Bank (ADB) to fund several development projects in the city.
The funding resources, which the Nairobi County Government intends to tap into, include a US$50 million Municipal Trust Fund that was recently announced by the Continental Development Bank.
His administration will also tap into more than $2 billion in resources that ADB provides annually to fund projects and programs that directly impact African urban areas.
“Some of the bankable projects to be presented to ADB for financial consideration will be in areas of urban sanitation and sewerage systems, waste management, infrastructure, financial inclusion, and climate change adaptation,“ Governor Sakaja revealed.
Speaking from Marrakech, Morocco, where he is attending the Africa Investment Forum, a consultative initiative of the African Development Bank, Sakaja stated that the ADB multi-billion-dollar funding resources will make Nairobi work.
“The African Development Bank has availed US$50 million towards its Municipal Trust Fund and a whooping US$2 billion towards developing cities in Africa. I participated in the ongoing Africa Investment Forum at Marrakech, Morocco, where Nairobi strongly committed to tapping into these funds,” Sakaja said.
Backed by ADB financial resources, the city of Nairobi completed the Nairobi Outer Ring Road project in 2020, which involved $107 million in funding.
The project has resulted in the upgrade of a 13-kilometer stretch of carriageway, including provisions for a future median bus rapid transit system.
Other cities that have expressed interest in tapping financial resources include Kigali, Addis Ababa, and Dakar, among others, who attended the High-Level African Mayoral Event and engaged in a discussion themed ‘Financing for African cities’.
