On Friday, President Uhuru Kenyatta hosted Interim World Bank President Kristalina Georgieva at State House, Nairobi.
After their meeting, the Head of State revealed a number of issues the two discussed in regards to the bank’s relationship with the country.
Top on the agenda was the Bretton Woods institutions’ support to Kenya’s development project.
Consisting of the World Bank and the International Monetary Fund (IMF), 2018 reports from Washington stated that the institutions had taken an active pursuit to get developing nations into abandoning huge infrastructure projects financed by China.
It is the austerity measures proposed by the IMF that saw the government impose a 16 percent value-added tax on petroleum products in 2018.
President Uhuru also urged Georgieva to support small and medium-sized enterprises (SMEs) explaining that they are a major source of employment in the country.
According to a 2016 survey conducted by the Kenya National Bureau of Statistics (KNBS), SMEs contribute an approximated 28.5 percent of the economy while employing at least 6.3 Million people.
Uhuru also informed the World Bank president of Kenya’s target to attain 100 percent transition to green energy by 2022.
“Adopting a waste-to-energy innovation approach that converts waste from industrial activities into energy, is one way to promote a circular economy. The Kenya Cleaner Production Strategy 2000 encourages resource efficiency and cleaner production in manufacturing,” he stated during his keynote address at the UN Environment Assembly in Gigiri on Thursday.
He further stated that the government had set clear targets through the National Green Growth Strategy in order to achieve global sustainable development goals.
“I pledge that Kenya will increase her forest cover to 10 percent by 2022 as we play our part as a member of the global community,” he declared.