Kenya gets Sh1.8b to mitigate corona impact
FACILITY: Kenya will receive $16 million (Sh1.76 billion) funding from the Danish government to support Covid-19 mitigating measures, and transition towards a green economy.
A statement from Trade Mark East Africa (TMEA) yesterday indicated $3 million (Sh330 million) will be allocated to the safe trade emergency facility, while $13 million (Sh1.43 billion) will be utilised for green transitioning in trade and sustainable jobs.
The signing ceremony is slated for today at the Ministry of EAC and Regional Development offices, between EAC Cabinet Secretary Adan Mohammed, and the Danish Ambassador to Kenya Ole Thonke.
The Safe Trade Facility is an emergency programme being rolled out by TMEA in the wake of Covid-19 to complement East African Governments’ efforts to keep safe trade flowing even as the fight against the virus continues.
Specifically in Kenya, the Safe Trade Emergency Facility will fund a range of short to medium term measures to protect critical supply chains and keep borders open thus preventing job losses and protecting livelihoods.
TMEA is implementing the Safe Trade Emergency facilities in the region, through a €5 million (Sh665 million) finance agreement with the European Union.
The Green Economy transition funding will help Kenya build a low carbon and resilient economy by consolidating, scaling up and embing green growth initiatives in the county’s national development goals.
