The United Kingdom will spend $30 million (Sh2.7billion) in wealth creation projects in Kenya in 2015.
The UK, through the Department for International Development (DFID) said the investment is aimed at helping the Kenyan economy achieve a 10 per cent growth rate and attain upper middle income status.
DFID estimates the projects will generate 110,500 jobs by the end of 2015.
The wealth creation projects include market development, financial access, infrastructure, trade and regional economic integration.
According to DFID, Kenya has the largest, most diversified and innovative economy in East Africa.
“Its human capacity, entrepreneurial energy and available capital give it huge potential to create jobs and reduce poverty among Kenyans and other East Africans, as well as setting trends for other African countries,” DFID added in its 2015-2016 operation plan.
The UK will also support the health sector by supporting safe delivery for mothers. The project aims at helping at least 30,000 mothers deliver with the help of midwives, nurses or doctors in the next one year.
Other sectors to be supported are education and poverty alleviation through cash transfers to vulnerable groups.
“Cash transfers are a proven instrument for reducing extreme poverty and managing household-level risk and vulnerability. Our current project-level monitoring and evaluation shows recipient households using transfers to increase family food consumption, children’s education, assets and trading,” the UK agency said.
-nation.co.ke
