Sh22bn Japan funding to support vehicle assembly, energy reforms
NAIROBI, Kenya, June 22 – Kenya has secured a Sh22 billion financing package from Japan aimed at boosting local vehicle assembly, reducing energy losses and supporting government reforms as the…..
✨ Key Highlights
Kenya has secured a substantial Sh22 billion financing package from Japan to bolster its automotive sector and implement energy reforms. This funding aims to accelerate industrialization and diversify the country's funding sources.
- The largest portion, Sh13.1 billion, will support Kenya's National Automotive Policy to boost local vehicle assembly.
- The agreement was signed by Treasury Cabinet Secretary John Mbadi on behalf of Kenya and NEXI Chairman and Chief Executive Officer Atsuo Kuroda.
- Additional funding includes Sh5 billion for reducing energy losses and Sh4 billion for broader government reforms, marking Kenya's entry into Japan's capital markets via a Samurai bond structure.
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