Kenya, east Africa's biggest economy, will invest 360 billion shillings ($4.4 billion) in road and port development projects through 2012.
Kenya will finance the projects through bonds, President Mwai Kibaki said in an e-mailed speech today.
The financing requirements are enormous'' and can't be met by government alone, Kibaki said. We are encouraging private sector participation in infrastructure development,'' he said.
The global economic slowdown may slow growth in Kenya, east Africa's biggest economy, to between 3.5 percent and 4.5 percent this year, Standard Bank said on Oct. 14. Johannesburg-based Standard Bank is Africa's biggest lender.
The country will spend 186 billion shillings to road upgrades, develop the port of Mombasa, and build a second port at Lamu, Kibaki said. Kenya's railway lines will be modernized and expanded'', with a line from Lamu to Southern Sudan and Ethiopia being built, he added.
Kenya will finance the projects through bonds, President Mwai Kibaki said in an e-mailed speech today.
The financing requirements are enormous'' and can't be met by government alone, Kibaki said. We are encouraging private sector participation in infrastructure development,'' he said.
The global economic slowdown may slow growth in Kenya, east Africa's biggest economy, to between 3.5 percent and 4.5 percent this year, Standard Bank said on Oct. 14. Johannesburg-based Standard Bank is Africa's biggest lender.
The country will spend 186 billion shillings to road upgrades, develop the port of Mombasa, and build a second port at Lamu, Kibaki said. Kenya's railway lines will be modernized and expanded'', with a line from Lamu to Southern Sudan and Ethiopia being built, he added.