IFC role in Kenya’s private sector.

Photo credit: PSCU

President Uhuru Kenyatta on Tuesday urged the International Finance Corporation (IFC) and other World Bank constituent financial institutions to help support the private sector.

Speaking on Tuesday in a meeting with IFC Managing Director Makhtar Diop at State House, Nairobi, the President said IFC had the potential to help make Kenya a lucrative investment hub. He added that Kenya had the potential to accelerate its economic growth. He was confident with the IFC partnership the goal was archivable.

Mr Diop, who led a high-level delegation, briefed the President on the involvement of IFC in different economic sectors under the Big 4 Agenda. He plans on conducting roundtable discussions with stakeholders in the pharmaceuticals and housing sectors to see how best to collaborate to ensure the realization of affordable healthcare and housing for the Kenyan people.

President Kenyatta and Mr Diop also discussed a plan Kenya is keen on implementing to manufacture vaccines. He appreciated the role IFC has played in supporting Kenya’s private sector, noting the Big 4 Agenda has opened more opportunities for increased collaboration through the country’s Public-Private Partnership programme. The present highlighted the Government had come a long way in creating an enabling environment for investors in the different sectors.

There a role that IFC can play to enable the private sector participate more in support of provision of affordable housing, universal healthcare, food security and manufacturing and spur Kenya’s economic growth.

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