EU investment in Kenya: funding programmes to support reform, growth

eu investment in kenya
© iStock/ChandraDhas

The European Commission has launched two EU funding programmes worth €31m in total, aimed at promoting investment and growth in Kenya.

EU Commissioner for International Partnerships Jutta Urpilainen announced the programmes during an official visit to Nairobi, Kenya’s capital city. During her visit, the Commissioner met with young leaders, delivered the keynote speech at the ninth Summit of the Heads of State and Government of Africa, the Caribbean and the Pacific (ACP); and held talks on future EU-Kenya co-operation with President of Kenya Uhuru Kenyatta and acting Treasury Minister Ukur Yatani.

The two programmes, which are designed to boost strategic dialogue between the EU and Kenya and shore up the economic partnership between the two countries, are:

  • €26m for reforms to public finances in Kenya, aimed at addressing issues of poverty and economic instability and improving standards of service delivery; and
  • €5m to be directed to national policy reforms and matters of economic co-operation, providing technical assistance for Kenya’s Vision 2030 strategy and the President’s ‘Big Four’ agenda for the four key priorities of national development: enhancing manufacturing; boosting food security and nutrition; providing universal healthcare; and implementing affordable housing.

Between 2014 and 2020, EU investment in development co-operation in Kenya reached a total €435m. Kenya is also a beneficiary of the EU’s Emergency Trust Fund for Africa, from which it has received more than €15.3m since 2015.

Speaking in Nairobi, Commissioner Urpilainen said: “We have a close and valued partnership with Kenya, driven by common objectives and aligned with the Africa-Europe Alliance for Sustainable Investment and Jobs and Kenya’s Big Four Agenda. I’m delighted to announce these new programmes today, which will deepen our economic partnership, boost Kenya’s economic potential, improve the investment climate, and create jobs. They are further evidence of our mutually beneficial cooperation to promote sustainable development to eradicate poverty.”

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