SPECIAL
OFFERS

WEEKEND
GETAWAYS

WITH

SERENA

 


THE MOST FROM THE COAST !

..


 Coastweek website


XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

New China-Africa Development Fund ceremony | Coastweek

NAIROBI (Xinhua) -- Guests attend the launch ceremony of a new China-Africa Development Fund (CADFund) office in Nairobi on Sept. 22, 2016. The China-Africa Development Fund (CADFund) on Thursday signed a memorandum of understanding (MoU) with the Kenyan government to develop 20,000 housing units for civil servants. XINHUA PHOTO: LI BAISHUN
China’s development fund, Kenyan
government sign deal on housing project

NAIROBI (Xinhua) -- The China-Africa Development Fund (CADFund) on Thursday signed a memorandum of understanding (MoU) with the Kenyan government to develop 20,000 housing units for civil servants.

Speaking at the launch of a new CADFund office in Nairobi, Kenyan Cabinet Secretary for Transport, Infrastructure and Housing James Macharia said Chinese investments have stimulated economic growth in the east African nation.

“Kenya has witnessed huge Chinese investments in the last decade. The signing of an MoU with China-Africa Development Fund to develop 20,000 housing units for our civil servants is a testimony to our strong partnership,” Macharia said.

Chinese Ambassador to Kenya Liu Xianfa and senior executives from CADFund witnessed the signing of the MoU.

Operated by the China Development Bank (CBD), CADFund’s main tasks include supporting Chinese business and investing in Africa. It has a capital reserve totaling 10 billion U.S. dollars.

So far, CADFund has enlarged its investment portfolio across Africa in areas like agriculture, manufacturing, infrastructure development and industrial parks.

Macharia said Kenya is keen to partner with Chinese financial institutions to modernize transportation infrastructure and develop new residential premises.

“China’s Exim Bank and CADFund have a proven track record in infrastructure development. The setting up of CADFund offices here in Nairobi is very crucial,” Macharia remarked, adding that Kenya will strengthen engagement with the private sector to develop new roads and social amenities.

Chi Jianxin, Chairman of CADFund, said that priority will be given to development of railways, roads, ports and industrial parks in Africa. He revealed that CADFund has invested in 87 projects across 36 African countries.

Remember: you read it first at coastweek.com !


Sarova Whitesands Hotel banner | Coastweek

 

TO ADVERTISE ON THIS WEB SITE:  www.coastweek.com
Please contact

MOMBASA - GULSHAN JIVRAJ, Mobile: 0722 775164 Tel: (+254) (41) 2230130 /
Wireless: 020 3549187 e-mail: info@coastweek.com

NAIROBI - ANJUM H. ASODIA, Mobile: 0733 775446 Tel: (+254) (020) 3744459
e-mail: anjum@asodia.co.ke

 
    © Coastweek Newspapers Limited               Tel: (+254) (41) 2230130  |  Wireless: 020 3549187  |  E-mail: info@coastweek.com