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Leaders resolve to fast track $24b Lamu project

By Vision Reporter

Added 1st August 2014

Regional leaders have agreed to speed up Lamu Port Project.

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By Vision Reporter

President Yoweri Museveni along with Prime Minister Hailemariam Desalgen of Ethiopia, President Salva Kiir Mayardit and their host President Uhuru Kenyatta of Kenya have resolved to fast track the implementation of the Lamu Port Project that will boost trade and investment in the region.

The Lamu Port, South Sudan and Ethiopia transport corridor project is an infrastructural venture that aims at facilitating trade, promoting regional economic integration as well as connectivity between African countries.

In a press briefing after the one day Summit at State House Nairobi, the host President, Uhuru Kenyatta, who described the meeting as the latest chapter in the deepening of integration agenda, pointed out that the focus is on opening up the region's interconnectivity, trade and investment as well as ensuring that the region's enterprises are globally competitive.

He, however, noted that the 7 components of the Lamu project requires a huge amount of funds amounting to US$24.5 billion of which Lamu Port alone will need US$32 million for its construction. He also said that the project will need a joint innovative approach for its quick implementation.

Uhuru Kenyatta added that leaders of the Lamu Corridor will utilize the forthcoming US-Africa Summit slated for the 4th to 7th August 2014, to interest American investors into the project.

"In our discussions, we were informed of the up-coming USA-Africa Summit to run from the 4th to the 7th August 2014. The Summit will allow us chance to engage American investors on the project", he said.

President Kenyatta added that they also discussed the necessity for regional peace and security that will provide conditions in which the Lamu Port Projects and many others will deliver the full benefits of growth and equity to a region that is hungry for progress.

President Museveni returned home last evening, having been seen off at Jomo Kenyatta International Airport by Senior Kenyan Government officials.

Others at the Airport to see off President Museveni included Uganda's High Commissioner to Kenya, Ms. Angelina Wapakhabulo and the Kenyan High Commissioner to Uganda Ambassador Geoffrey L. Okanga.

 

Leaders resolve to fast track $24b Lamu project

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