Kenya today signed an agreement with two Italian banks, which will see the construction of a mega water dam in the North Rift region.
Italy’s BNP Paribas and Intesa San Paolo banks signed a 34 billion shillings financing agreement for the construction of Itare Dam in Kuresoi.
The agreement witnessed by President Uhuru Kenyatta and Italian Prime Minister Matteo Renzi will cater for the construction of the dam, a tunnel, raw water treatment of 100,000 cubic meter per day and laying of pipes.
The dam will serve over 800,000 people in Kuresoi, Molo, Njoro, Rongai and Nakuru town.
Speaking during the bilateral talks attended by Foreign Affairs and International Trade Cabinet Secretary Amina Mohamed, President Kenyatta and Prime Minister Renzi agreed to strengthen cooperation between Kenya and Italy in security –especially in the fight against terrorism, the Standard reports.
This latest investment brings Italys’s total financial investment in Kenya to Sh 59.3 billion.
