Kenya signs Sh1.3 billion deal with Trade Mark East Africa

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Treasury CS Ukur Yatani on Tuesday signed a grant agreement with Trade Mark East Africa at his office in the National Treasury Building.

Yatani appreciated trademark East Africa’s financial support amounting to USD 123.5 million since 2010, which he said has hugely contributed to economic development in Kenya and East African countries.

The CS also signed an Sh1.31 billion deal which will facilitate trade and unlock the economic growth of Kenya, Uganda, Rwanda, Burundi, and DRC.

From the fund, the CS said the dualling of Magongo Road at a cost of Sh200 million will form an important link to transit cargo leaving Mombasa to join Northern Transport Corridor.

Also, the dualling of 2km carriage to Busia One-Stop Border Post will cost Sh300 million, easing movement into and out of the country.

Yatani said the grand agreement will also help in the construction of the Busia Cross Border ‘Jumuiya Market’, costing Sh485 million.

The funds will also be used to complete outstanding and additional construction works on the Malaba One-Stop Border Post at Sh325 million, including completion of road works, bridges approach, and provisions of utilities and services.

The CS added that the listed projects will create efficient borders that will facilitate international trade, investments, and economic growth.

Source: The Star

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