BNP Paribas Italy and Intesa San Paolo banks have signed a US$ 333m agreement with Kenya for the construction of Kuresoi dam in Kuresoi, 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 cubic meters per day and laying of pipes on a project that will serve over 800,000 people in Kuresoi, Molo, Njoro, Rongai and Nakuru towns.
Mr. Matteo Renzi is in the country for a two-day official visit. He was received on arrival by Cabinet Secretary for Foreign Affairs Ambassador Amina Mohammed. He was accompanied by Italy’s Deputy Foreign Affairs Minister Mario Giro, International Economic Affairs Adviser Prof Marco Simoni, ENI Chief Executive Claudio Descalzi and ENEL Green Power Chief Executive Francesco Venturi.
The Kenyan president welcomed more Italian companies to invest in Kenya, saying devolution has opened new investment opportunities in agriculture, infrastructure, energy, mining and manufacturing 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.
