Last Updated 12 years ago by Kenya Engineer
The president Uhuru Kenyatta yesterday held an integration meeting with Uganda’s president, Yoweri Museveni and Silva Kiir of South Sudan and Ethiopia’s Prime Minister, Hailemariam Desalegn in regard to the LAPSSET project where he confirmed that the involved nations would jointly fund the project.
“With the large sums involved, it was clear to us that a joint approach that is innovative will be required for implementation”, noted President Uhuru.
The project comprises of seven components totalling to a tune of Ksh2 trillion. The heads are seeking to shorten the time the project is presumed to take as well as establish a sustainable financial model for the project.
“We sought to learn from the African Development Bank’s Africa50 Infrastructure Fund approach”, noted President Kenyatta.
“LAPSSET is an integrated and transformative infrastructure project that will provide regional economic integration and interconnectivity that generates the investment and trade flows that are so crucial to ensuring that the region is able to deliver the shared prosperity that is the key to decent livelihoods and sustained peace and security. “-reads a statement by the president.
The meeting was called prior to the forth coming Africa-USA Summit scheduled for 4-7 August this year. The summit is said it will give the leaders a chance to engage with American investors on the project.
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