President William Ruto's administration has received Ksh1.9 billion in two tranches for different projects in the country.
The two Tied Aid Credit Facility Agreements were signed between the Kenya Kwanza administration and that of Hungary.
In the first tranche, Hungary gave the Treasury Ksh1.3 billion for the Kabonyo Fisheries and Aquaculture Service and Training Centre of Excellence.
The other Ksh657 million was wired to help in the Rehabilitation, and Upgrading of Pumping Station at Ahero Irrigation Scheme in Kisumu County.
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Following the signing of the deal, the Treasury Cabinet Secretary appreciated the Hungarian government insisting that the aid was key to reviving agriculture which is one of the key sectors in President William Ruto's administration.
He emphasized the significance and positive impact of the development assistance and expressed hope for continued strengthening of the relationship between the two countries for mutual benefit.
On the other hand, the Hungarian delegation committed to deepening ties with the Kenyan government for economic transformation.
The deals come days after Ruto's government received financial aid from Italy. The European nation committed to giving President Ruto's administration a concessional loan of Ksh22 billion ( €150 million).
"During the discussions, the Italian Republic committed to providing a concessional loan of €150 million to the GoK for budgetary assistance. This support is contingent upon the successful implementation of the reform measures outlined in the 6th Devt Policy Operation DPO 6," a statement issued by the Treasury read in part.
The Italian delegation from the Ministry of Foreign Affairs indicated that the loan will help the Kenya Kwanza administration in its budget.
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