BNP Paribas Italy and Intesa San Paolo banks have signed a US$ 333m agreement with Kenya for the construction of Kuresoi dam in Nakuru county.
The signing of the agreement at State House, Nairobi, was witnessed by President Uhuru Kenyatta and Italian Prime Minister Matteo Renzi after they held bilateral talks. The agreement brings Italy’s total financial assistance to Kenya to US$ 528m
The total amount will be used for the construction of Kuresoi dam, tunnel, raw water treatment of 100,000 m3 per day and laying of pipes on a project that will serve over 800,000 people.
The Kenyan president invited more Italian companies to invest in Kenya, saying devolution has opened new investment opportunities in many sectors at the county level.
Since 1966, Kenya and Italy have enjoyed cordial relations and cooperation, Italian assistance to Kenya is in the form of grants, concessional loans and technical assistance.
