The World Bank will invest $2.5 billion to complete various private-public partnership projects (PPPs) between 2023 and 2027 in Kenya, Business Daily newspaper reported.
The International Finance Corporation (IFC), the private arm of the World Bank, will invest part of the funds in transport and energy projects, inputs and technology services, food processing, and logistics and supply chains.
Among the PPP projects that the World Bank is expected to help finance is the Nairobi-Nakuru-Mau toll road, with IFC likely to inject either debt or equity into the 233-kilometre highway.
The newspaper said that the International Development Association (IDA), another arm of the World Bank Group, will provide a partial risk guarantee for the 184 billion Kenyan Shillings four-lane highway.
(Writing by P Deol; Editing by Anoop Menon)