Financing secured for Kenya road upgrade

Financing has been secured to pay for upgrading work for the road connecting Kenol, Sagana and Marwa in Kenya. The 84km route includes a stretch of the A2 road and will be widened to dual carriageway status, with two lanes in either direction and a central divider, rather than one lane in in either direction at present. Funding is being provided by the African Development Bank (AfDB) in the shape of loans worth US$237 million. The AfdB’s loan package will pay for around 69% of the work, with the People’s Ba
October 9, 2019 Read time: 1 min
Financing has been secured to pay for upgrading work for the road connecting Kenol, Sagana and Marwa in Kenya. The 84km route includes a stretch of the A2 road and will be widened to dual carriageway status, with two lanes in either direction and a central divider, rather than one lane in in either direction at present. Funding is being provided by the 1586 African Development Bank (AfDB) in the shape of loans worth US$237 million. The AfdB’s loan package will pay for around 69% of the work, with the People’s Bank of China and the Africa Growing Together Fund (AGTF) of the development bank providing a further 12%.
Finance & Funding

For more information on companies in this article

Related Content

  • Argentina road works; funding secured
    August 2, 2019
    Funding has been secured for a series of road works in Argentina. The Inter-American Development Bank (IADB) is providing US$300 million in the shape of a loan for work on a number of key routes. The road projects being targeted include Routes 6 and Route 8 in Rio Negro; Route 23 in Villa Elisa; the Gualeguaychu ring-road; Route 1 in Catamarca. Meanwhile the finance package forms part of a much wider plan from the IADB to develop infrastructure in Argentina.
    Read More
  • Nigerian road works planned
    July 17, 2023
    Nigerian road works are being planned.
    Read More
  • Serbia-Bosnia highway project funding being secured
    August 30, 2019
    The necessary financing package for Serbia’s key highway project is now being secured. The Belgrade to Sarajevo highway is already under construction, with 60km of the link having been built so far. The existing section of the highway connects Obrenovac with Ljig, while work on the southern stretch of the route is due to commence shortly. Serbia has taken loans worth €3 billion for its share of the project, with the Turkish Government and various Turkish banks being directly involved in supporting the works
    Read More
  • Loan to finance major Nicaragua road project
    September 7, 2017
    The project to widen Managua’s Pista Juan Pablo II highway in Nicaragua has taken another step forward to commencing. Nicaragua’s Government is giving its approval for a loan to pay for the project. The US$105.4 million loan will be provided by the Central American Bank for Economic Integration (CABEI). Further funding worth $136 million is being provided by the European Investment Bank (EIB), with $33.4 million coming from the Nicaragua Government.
    Read More

Highlighted Content