UN pledges Sh65b to housing project : The Standard

The United Nations will mobilise Sh64.7 billion to build 100,000 houses in the country in a major boost to the State’s affordable housing plan. The UN Office for Project Services (UNOPS) yesterday said it would invest $10 million (Sh1 billion) seed capital to kick-start the project and would additionally mobilise other organisations to invest varying amounts, taking the total investment to $647 million (Sh64.7 billion). The announcement is a follow-up to an agreement signed on the sidelines of the ongoing 73rd United Nations General Assembly in New York in September last year with the Government for the delivery of 100,000 affordable housing units. “As part of the agreement, UNOPS and its partners will seek to attract $647 million worth of investment to deliver at least 100,000 affordable and sustainable homes across the country,” said Grete Faremo, executive director, UNOPS, in a statement.

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The agency said the houses would use green technologies and energy-efficient solar rooftops, while the implementation work will include local equipment, skills and expertise. The project will entail other amenities such as children’s playgrounds, schools and community halls. It is expected to provide significant employment opportunities for local communities nationwide and help to alleviate the housing crisis in Kenya. “By reducing the investment risks of development activities, we are helping to bring about new partnerships between the private and public sectors. The knock-on effect means unlocking new opportunities and providing jobs for local communities, which all helps drive progress towards the SDGs (Sustainable Development Goals),” said Faremo. The Government plans to put up half-a-million affordable housing units by 2022 as one of the pillars of President Uhuru Kenyatta’s Big Four agenda. The plan has, however, faced problems, including a court order stopping employers from deducting money from employees for remittance to the National Housing Fund, an agency that will mobilise finances for the projects.

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Related Topics

United NationsSh64.7 billionUNOPSUnited Nations General AssemblyHousing project