World Bank approves investment to improve Kenyan roads

27/04/2011 - Kenya property & investment news
World Bank approves investment to improve Kenyan roads

The World Bank has approved a $300 million loan to Kenya to improve roads in the western part of the country as well as the runway at the international airport in the port city of Mombasa, Reuters reports.The road to be upgraded links Kenya to Sudan and Tanzania, the bank said, adding that its revamp will boost trade in the region.Johannes Zutt, World Bank country director for Kenya, said in a statement: "This project will ... (open) up trade and investment opportunities for Kenya and the wider East African region."According to the bank, the Tanzania-Kenya-Sudan road corridor - which also links to Uganda and Ethiopia - and a second artery, the Northern Corridor, serve about 70 per cent of the country's population.Kenya's economy is the largest by GDP in East and Central Africa, while its capital Nairobi is a major commercial hub.