Affordable Housing Project to receive Ksh13.9 Billion

President Uhuru Kenyatta(Centre) being taken through Affordable Housing Plan.

President Uhuru Kenyatta (Centre) being taken through Affordable Housing Plan.

Spread the love
  • 8.2 billion of the 13.9 billion  has been allocated  for construction of affordable housing units, 3.5 billion for  the Kenya Mortgage Refinance Company and  Ksh 500 million for social housing units.

In the budget reading today, Cabinet Secretary Ukur Yatani has announced the allocation of   Sh13.9 billion for the affordable housing project for the financial year 2021/2022.

Speaking while reading the budget at parliament buildings today, the CS said  said the funds will help in addressing the housing challenge, particularly in urban areas.

“The urban area has continued to face the housing problem and to ensure the success of this initiative, I have proposed an allocation of Sh13.9 billion for the affordable housing project,” said Yatani.

Ksh 8.2 billion of the kshs 13.9 billion  has been allocated  for construction of affordable housing units, KSh3.5 billion for  the Kenya Mortgage Refinance Company and  Ksh 500 million for social housing units.

“The proposed allocations include Ksh7 billion to Kenya Affordable Housing Project Ksh 500 million construction of Social Housing Units; Ksh3.5 billion to Kenya Informal Settlement Improvement Project – Phase II; Ksh750.0 million for the Housing Units for National Po-lice and Kenya Prisons; and Ksh1.0 billion for construction of markets,” Yatani  added.

The affordable housing project has faced a lot of reproach over the years for failing to deliver the 500,000 housing units by 2022 as promised by President’s Uhuru Kenyatta despite massive funds allocations.

Sharing is Caring

Do you have a groundbreaking story you would like us to publish? Please reach us through [email protected]. You can also contact 254news.co.ke Instantly.