President William Ruto signed into law the National Infrastructure Fund Bill, establishing a new financing framework aimed at mobilising more than Sh5 trillion for key development projects across the country.
The President assented to the bill on Monday at State House Nairobi during a ceremony attended by captains of industry from Kenya, Africa and other parts of the world.
Ruto described the National Infrastructure Fund as one of the most significant initiatives in the country’s development journey, saying it would help bridge the infrastructure financing gap and accelerate economic transformation.
According to the President, the fund will support major national projects including the production of 10,000 megawatts of clean energy, construction of 50 mega dams, 200 micro-dams and more than 1,000 small dams, as well as the development of 2,500 kilometres of dual carriageways and 28,000 kilometres of roads.
The initiative will also provide financing for the extension of the Standard Gauge Railway from Naivasha to Malaba and Kisumu, as well as the expansion of Jomo Kenyatta International Airport.
Ruto said the fund will enable the government to package infrastructure priorities into investable instruments and attract both local and international investors.
He noted that the framework is designed to de-risk infrastructure investments and provide a structured platform for long-term financing rather than relying heavily on traditional borrowing.
“The Kenyan National Infrastructure Fund is not an experiment; it is a model that has succeeded in other jurisdictions,” he said.
Ruto added that the establishment of the fund fulfils a pledge made to Kenyans in the government’s development agenda and will play a critical role in advancing the country’s ambition of achieving first-world economic status.
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