By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Cabinet Secretary – Alice Wahome for the Ministry of Water, Sanitation and Irrigation, let out to columnists in Nairobi, that the cash will be advanced to small scale water service providers without the desire for collateral.
“The fund is expected to finance projects that will provide access to water for about 200,000 people across Kenya,” Wahome said in a speech read on her behalf by Kimathi Kyengo, Director of Sanitation Management and Head of Development Cooperation at the Ministry.
Kyengo disclosed that the fund will improve the creditworthiness for water service providers in urban and rural areas. He remarked that the financial support utilizes a revenue-based solution in order to address the lack of collateral which is a major drawback in the water sector.
Angela Kimani, Acting Director of Licensing, Standards and Advocacy at Choices Regulatory Board, mumbled that now 70% of the population has access to clean water in the country.
Kimani reported that the fund will furthermore assist to curtail the country’s water infrastructure financing gap.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent