Kenya

The Executive Directors approved a five-year credit to the Republic of Kenya in the amount of SDR 65 million (US $100 million equivalent) for a Kenya Informal Settlements... Show More + Improvement Project (KISIP) on the payment terms and conditions set out in the President's Memorandum. Directors expressed support for the project, noted its consistency with the 2010-2013 Country Assistance Strategy (CAS), and welcomed the strong collaboration with development partners in designing and financing the project. They agreed with the objectives of the KISIP to improve the living conditions of informal settlements in selected municipalities in Kenya, and welcomed the focus of the project on strengthening security of tenure for current residents and on upgrading infrastructure through a participatory process. Directors noted that the project is crucial not only for enhancing competitiveness of cities and overall growth, but for directly addressing poverty and promoting more inclusive service delivery. They also welcomed the project's emphasis on improving governance at the local and settlement levels, and stressed the need for the Bank Group to support implementation by providing capacity building support, technical assistance, and knowledge transfer. Show Less -