The government intends to partner with financial institutions from China to promote infrastructural projects to spur economic growth towards the realization of the vision 2030 dream.

Prime Minister Raila Odinga said the government was eyeing Chinese investors to finance the construction of major infrastructural projects in Communication, energy and support Small and Medium- sized Enterprises (SMEs) programmes.

He said the vision 2030 strategy had earmarked some infrastructure sectors that were key to acceleration of the envisaged 10% growth rate at the expiry of the set target.

Odinga told a delegation of Chinese Investors who paid him a courtesy call at Treasury Building that most of the proposed projects were still open for negotiations once the ongoing feasibility studies at the site was concluded.

The Governor of the China Development Bank (CDB) Mr. Jiang Chaoliang who led the team said previous partnership ventures with the Kenyan government was found of mutual benefit to both parties owing to the need to strengthen the bilateral ties.

The governor said his bank had committed at least Ksh. 1.5 billion to support local projects including the recently unveiled partnership programme with the equity bank to undertake a SMEs financial scheme for small time investors.  

He however said the bank made a mark in the country’s development efforts after investing an accumulative cash package amounting to at least Ksh 127 billion in various infrastructural programmes in the country.

Among the projects the government intends to outsource funding to fast tract the roads to vision 2030 include the construction of a standard rail line from the proposed Lamu port to Juba and another linkage from Mombasa port to Uganda.

Other projects include the construction of a oil refineries and a pipeline linking the Kenyan ports to oilfields in Southern Sudan and those recently found in Uganda to ease shipment of the crude oil.

The Chinese have also expressed interest in Hydro and Wind power generation projects as the country embarks on expansion of green energy production to cut carbon emissions in line with the Copenhagen agreement on climate change.

The proposal to give the Chinese a upper hand in the infrastructural development of the country comes as many institutions from the Far East expressed interest in Africa to exploit the untapped potentials in the continent.

Present during the call were Regional development Minister Fred Gumo and Chief Executive of the Equity James Mwangi who was expected to later ratify a Memoranda of Understanding with the CBD officials on the launched MSEs programme.