HomeTop StoriesRuto and South Korean President sign Sh120 billion deal

    Ruto and South Korean President sign Sh120 billion deal

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    With the $1 billion (KSh120 billion) that Kenya has received from South Korea, the country can go forward on a number of important development initiatives.

    Spending priorities include healthcare, information technology, agriculture, vocational and technical education, the Sagana Industrial Park, low-cost housing, energy, infrastructure, and public transportation, and the special economic zones of Mombasa’s Dongo Kundu and Naivasha.

    At a meeting with his South Korean counterpart, Yoon Suk Yeol, President Ruto expressed gratitude for South Korea’s assistance within the context of economic cooperation.

    Kenya’s President William Ruto has remarked that the pact would help the country’s efforts to rapidly build its economy via manufacturing, agro-processing, and value addition.

    Similarly, Kenya and South Korea will collaborate to build factories in the Konza Technopolis, an export promotion zone devoted to the creation of pharmaceuticals, vaccines, and the enhancement of the agricultural value chain.

    The two leaders also committed to working together on green energy, security, and the expansion of the Nairobi Intelligent Transport System and Bus Rapid Transit network to ease traffic congestion in the city.

    South Korea’s government, according to President Yeol, would assist Kenya in dealing with the drought.

    While doing so, President Ruto said that Kenya will help Korea establish a cultural center in the country.

    He felt this would help strengthen links between the two nations and spread awareness of the Korean language.

    The President said that those Kenyans selected for further education, training, and employment in Korea will profit from this.

    President Yeol said, “We are wrapping up the procedure for allowing Kenyan avocados into our nation in an attempt to achieve a trade balance.”

    The second day of President Ruto’s three-day official visit to the Southeast Asian country was jam-packed with events.

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