World Bank Agrees to Finance Kenyatta’s Affordable Housing Dream

The multilateral lender says the U.S.$250 million will enable the country to set up the Kenya Mortgage Refinance Corporation, to be owned by the state, commercial banks and financial co-operatives. President Uhuru Kenyatta has said provision of affordable housing is one of his four key priority areas in his second term and aims at providing 500,000 affordable houses in five years.

A newly-built house. Kenyans have opposed the plan by the government to deduct part of workers’ salaries to fund its housing project.

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