Parliament of Kenya has approved legislation establishing a National Infrastructure Fund aimed at mobilizing about $38.7 billion over the next decade to finance major development projects. The initiative seeks to shift infrastructure financing away from heavy reliance on public borrowing by attracting both public and private investment. Authorities say the fund will support projects across key sectors including transport, energy, water and digital connectivity.
The fund is expected to mobilize nearly 5 trillion Kenyan shillings to finance highways, railways, ports and agro-industrial infrastructure. By diversifying funding sources, the government hopes to accelerate the delivery of critical projects while reducing pressure on public debt and strengthening long term economic development.
The initiative follows an earlier proposal by William Ruto to establish both a sovereign wealth fund and an infrastructure fund to support national development. Several major projects have faced delays due to financing gaps, including the extension of the Standard Gauge Railway Kenya to Uganda and the expansion of Jomo Kenyatta International Airport in Nairobi. The new fund is expected to help revive such stalled megaprojects.
