TOKYO, Japan
Financial agreements worth Ksh.350 billion have been signed during President William Ruto's visit to Japan.
These agreements will support
projects and programmes in sectors that are aimed at turning around the
economic fortunes of the country.
The largest projects to
benefit are Dongo Kundu Infrastructure Ecosystem and the Mombasa Gateway Bridge
at the Coast at Ksh.260 billion.
President Ruto and Prime
Minister Fumio Kushida also agreed that Kenya will issue a Ksh.40 billion
Samurai bond in Japan to finance energy and infrastructure projects.
A Samurai bond is a
yen-denominated bond issued in Tokyo by a non-Japanese company. The bond is,
however, subject to Japanese regulations.
Kenya also secured Ksh.30
billion from the Japan Bank for International Cooperation to purchase heavy
machinery and mechanised assets.
The Olkaria Geothermal
Development Project will get Ksh.15 billion. Japan will also provide Ksh.1
billion for the production of medical oxygen
for various hospitals.
Through the United Nations,
Kenya will receive Ksh.320 million humanitarian aid for
those affected by the recent El Nino-related floods.
President Euro witnessed the
signing of the bilateral agreements on Thursday after holding talks with Prime
Minister Kishida of Japan.
“After a comprehensive
engagement with the Prime Minister on the partnership between Kenya and
Japan, I am confident that our bilateral relations will remain strong, robust
and dynamic,” he said.
Other agreements include MoUs
on cooperation in the ICT, health, finance and security sectors.
He said the MoU will include
enhancing the capacity of the Kenya Medical Research Institute (KEMRI) to build
on its pandemic management potential at a cost of Ksh.3 billion.
To strengthen the partnership
between the two countries in defence, an agreement on Defence Cooperation was
also signed.
This makes Kenya the
first African country to sign a defence pact with Japan.
“This will enable us to work
together in promoting peace and stability in Africa and all maritime trade
routes,” he added.
The President acknowledged
Japan's support for the completion of Phase II of the Mwea Irrigation Scheme
and the National Rice Masterplan.
“This is a mechanism for
achieving food security in our country and, indeed, Africa,” he said.
The two leaders also agreed on
the modalities of financing national development through frameworks such as
government-to-government and Public-Private Partnerships.
“As a consequence, a PPP
framework was signed between our two governments. We, therefore, agreed to take
deliberate steps to facilitate the private sector to play a leading role in
Kenya-Japan economic cooperation programmes and projects,” he said.
The Head of State urged Japan
to support reforms of the international financial system that will guarantee
developing countries fair and equitable development financing.
“Japan has a strong voice
which can support and amplify effectively the disenfranchised voices of
developing countries in regard to their peculiar developmental needs in access
to affordable financing,” he said.
The President acknowledged
Japan’s support for the UN Secretary-General’s budgetary proposal for the
modernisation of the United Nations Office in Nairobi.
The President also urged Japan
to support Kenya’s campaign to strengthen UN agencies resident in Nairobi.
“I also appealed to His
Excellency the Prime Minister to support our bid to host the International
Plastics Convention in Nairobi,” he said.
The two leaders also discussed
the security situation in the Horn of Africa, the Great Lakes region and Haiti.
“I requested Japan’s support
for the Multinational Stabilisation Mission to Haiti and for other AU regional
peace initiatives, particularly those in which Kenya is playing a leading
role,” he said
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