New Deal: Kenya Govt to Receive Ksh198 Million Funding From US
President William Ruto’s administration on Tuesday, February 6, received a shot in the arm after the US government signed a grant deal worth Ksh198 million.Thank you for reading this post, don't forget to subscribe!
The lucrative deal was inked by US Ambassador to Kenya Meg Whitman and Treasury Cabinet Secretary Njuguna Ndung’u in the presence of other government officials.
According to the National Treasury, President Joe Biden released the funds to support the Kenya Kwanza government in the public procurement sector which has been marred by graft in recent times.
“The technical assistance grant by the US, through the United States Trade and Development Agency will support value for money procurement manual and public procurement guide for suppliers on value for money approach in Public Procurement,” the National Treasury indicated.
Speaking after the signing of the agreement, CS Prof. Ndung’u said the grant will provide smarter, long-term investments with overall savings to the government.
He noted that the United States of America is a key partner in trade and investment in Kenya and that the two countries will continue fostering the long-standing strengthened cooperation that exists.
Ambassador Whitman hailed the country for securing the grant noting that it symbolised the strong ties between Kenya and the US.
The fund will revolutionise the public procurement sector and eliminate the burden of pending bills which has affected most sectors in the country.
According to financial experts, the grant is also expected to help the government develop systems that will reduce the waiting period for suppliers doing business with the government.
Currently, suppliers are forced to wait for even a year before receiving the money for supplies delivered to various government agencies.