Kenya has been selected to benefit from a 5.5 billion Euro (Ksh750 billion) funding by the Italian government.
The Ministry of Environment, through a statement on Thursday, November 14, revealed that officials from Kenya and Italy signed an agreement on the funding during the sidelines of COP29 in Baku.
Environment PS Festus Ng'eno alongside National Treasury's Public Debt Management Director General Raphael Otieno and NEMA DG Mamo Mamo represented Kenya at the signing event.
As detailed, part of the funding will support Kenya's efforts in addressing climate change.
Read More
Kenya and Italy have entered into a framework of cooperation that will see the East African nation benefit from the 5.5 billion Euro Mattei Plan. @HonAdenDuale @ItalyinKenya @Eng_F_Ngeno pic.twitter.com/BHmZHnsP3A
— State Dept For Environment & Climate Change (@EnviClimateC_Ke) November 14, 2024
It was revealed that most of the funding will be drawn from the Italian Government's National Climate Fund and the development cooperation budget.
"Announced towards the end of last year, Mattei Plan is the new partnership framework for Italy and African countries that will see funds disbursed to projects as grants, credits or guarantees," read the statement in part.
"Mattei Plan will support the achievement of Kenya's ambitious climate goals that include reduction of greenhouse gas emissions and building community resilience to climate change."
Kenya is among the African countries set to benefit from the funding,
Similar projects are being undertaken in Morocco, Mozambique, Algeria, DR Congo, Egypt, Ethiopia, Ivory Coast, and Tunisia.
