World Bank approves US$35 million to stimulate coast activity
TABJ July 29 - The Kenyan government’s campaign to increase revenue sources has received a boost with the World Bank approving a new credit line for development support.
The World Bank approved a US$35 million loan to boost Kenya’s coastal tourism resources and to also fight poverty. The money will be used to fund the Kenya Coastal Development Project which was created to promote Kenya’s coastal and marine resources.
Beyond its primary objective, the project also seeks to promote dialogue to establish a village fund to build micro-projects.
"These objectives will be complemented by frameworks including spatial planning and land mapping, integrated coastal management and compliance with regulations and safeguards," said Project Leader William Leeds Lane.


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