President Uhuru Kenyatta met a delegation from International Finance Corporation at State House. The President urged the corporation and other World Bank financial institutions to offer more support to Kenya’s private sector to spur economic growth.
“Kenya has the potential to accelerate its economic growth and I am confident that with your partnership we can achieve that goal,”
President Uhuru Kenyatta
Mr Diop assured The President on their commitment to support the different sectors of the economy under the Big 4 Agenda; Manufacturing, Affordable health care, Food security and Affordable housing. The IFC will support the government’s plans to manufacture vaccines locally.
The International finance corporation has been playing a key role in supporting Kenya’s Private sector. The Head of State said that the Big 4 Agenda has opened more opportunities to collaborate through the Public Private Partnership programme.
World Bank ranked Kenya among nations with ease of doing business globally. The government is committed to have the most business friendly regulations in place.
Kenya is an ideal investment hub in Africa with good infrastructure, high level of technology, skilled labor force, ease of doing business and stable political environment. ICF can play a big role in growing Kenya’s lucrative investment hub by supporting the private sector to implement the Government’s Big 4 agenda.
Mr Diop assured President Uhuru on the institution’s commitment to provide financial support to the private sector and spur economic development in the country. He said IFC will provide inclusive private sector financing and boost economic recovery by developing the capital markets.
“We look forward to working more closely with the private sector in Kenya which is already vibrant and enable to contribute more significantly in the achievement of the country’s development goals as well as promote intra-Africa Trade. It is time for Africa to begin trading within itself”
Mr Makhtar Diop
In respect to Sustainable Development Goal SDG 13 about Climate Action, IFC will provide financial support to private sector to help combat climate change. Speaking at the 26th Conference (COP26) in Glasgow last year 2021, President Uhuru called for an increase in climate funding to mitigate the effects of climate change.
Related:
IFC Managing Director, Makhtar Diop, to Visit Kenya
GTBank Kenya Secures $15 Million Facility from IFC to support SMEs
IFC to lend KSh 18.6 Billion to Equity Bank Kenya Limited
