President Uhuru Kenyatta on Wednesday morning witnessed the signing of a deal to deliver 100,000 affordable housing units.
The project will be financed through a partnership between the Kenya Government and the United Nations Office for Project Services (UNOPS).
The signing of the deal took place on the sidelines of the ongoing 73rd United Nations General Assembly in New York.
The affordable housing agreement between Kenya and UNOPS is part of the UN agency’s Social Impact Investment Initiative (S3i), a pogramme that underlines UN’s commitment to fostering innovative financing for the Sustainable Development Goals (SDGs).
When fully implemented, the agreement will boost Kenya’s efforts towards the realization of the ambitious affordable housing agenda as outlined in the Government’s Big 4 development blueprint by injecting 100,000 units into the market.
Witnessed the signing of a deal to deliver 100,000 affordable housing units to Kenyans financed through a partnership between #Kenya and @UNOPS. I’m confident my administration will be able to deliver on our housing commitment without putting undue pressure on the exchequer #UNGA pic.twitter.com/eY0Feynda0
— Uhuru Kenyatta (@UKenyatta) September 26, 2018
The total estimated investments for the program of delivering affordable housing is approximately USD 13 billion.
President Kenyatta said he wants the Government to deliver on its housing commitment without putting undue pressure on the exchequer.
We are focusing on financing and investment frameworks that will unlock private sector financing for this program and we believe that we will be able to utilize our labour and create 3 to 5 direct jobs and up to 8 indirect jobs per unit we build #AffordableHousing #Big4Agenda pic.twitter.com/AYXxchk1p8
— Uhuru Kenyatta (@UKenyatta) September 26, 2018
The President added that for every dollar that will be invested, the country anticipates that up to three times will be realized in the greater economy.
On her part, UNOPS Executive Director Grete Faremo lauded the agreement saying the initiative is part of efforts to ensure people have opportunity to live comfortably so as to contribute to the country’s economic growth without many challenges in life.