Govt gives up on Nairobi toll road project

The government will now have to look for other financiers for the Nairobi urban toll road project following the World Bank's decision to pull out. Roads minister Franklin Bett says the project as envisaged through the consortium has collapsed .the world bank has pulled out from the project saying it would only fund projects that adhered to its social and environmental safeguards.

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[pokot2002]

@karuitha nobody fucked Africa ,Africans fucked Africa.stealing misuse funds all the time.

[pokot2002]

Go world bank,if im gonna finance something it has to be on my regulation bett dont even know what he is doing.

[almunjama]

@colan4eva Asante, you saw how Kenyans invested in KPLC infrastructure bond? that the way forward. I don't support GOK in burrowing money with huge interest rate since it is kind of burdening the future generation. Believe me you, raising money through infrastructure bond is the way forward and will help reduce domestic debt and create wealth within Kenya.

[colan4eva]

@almunjama wewe ndio ume toa point!!!

[rashaenka]

Yes you have control mr Bett.They're telling you to have strictly followed rules on land acquisition,demolition and who gives building permits on rd reserves(corruption).Funny that In your opinion adhering to kenyan laws is beyond your control.Good move WB i wouldn't touch projects of "anything goes" either.

[smithlovekenya]

MAY BE IF THESE MINISTERS START PAYING TAX WE CAN MOVE TOWARDS SELF RELIANCE!! WE DON'T HAVE CONTROL ALRIGHT??

[almunjama]

@karuitha I tell you one thing, World bank is anti-development. They would fund us if we are really fucked up. They don't want to fund Kenya roads with Chinese companies being given the tender, it would be different if Kenya give contracts to EU or US company. Minister should try raising money via infrastructure bond. With NSE going south, lot of Kenya investors would love to get some bonds...

[almunjama]

@bethukip Yea mp taxes can help. I meant goverment should raise money via infrastructure bond. It would work very well since even World bank money is not usually free

[karuitha]

World bank and IMF have fucked up Africa for many years

[bethukip]

@almunjama kenyans have been taxed enough and they poor people cannot afford to contribute anymore..we should make those stupid MPs start paying the taxes first...lakini kenya..we stil have a long way to go!