News Column

World Bank releases cash to Western Kenya programme

January 21, 2014

Nelcon Odhiambo -1

A community-based organisation in Siaya has benefited from Sh1.09 million from the World Bank to fight poverty in Western Kenya . Western Kenya Community Driven and Flood Mitigation Project received the money, which was partly used to buy iron sheets and wires for making chicken sheds for a group of poultry farmers in Alego. The project co-ordinator Dan Odhiambo said the money will also be used to buy catering equipment for women groups. Mr Odhiambo urged unemployed youth to write proposals and submit them to the organisation and they will receive capital to start businesses. "Each group that received money presented viable proposals that were approved," he said. Businesses received 70 per cent of the funding and are expected to top up the rest. The groups are also required to raise five per cent of the capital and commit to provide labour and other raw materials before receiving the funds. The World Bank funding will enable residents find an economic lifeline through fish farming, dairy keeping, beans growing and bee keeping. Mr Odhiambo said it is time for Nyanza to grow its economy and the youth should take advantage of such cash allocations. "Handouts from politicians cannot sustain you. You need to come up with bright ideas to start businesses.''

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Business Daily (Kenya)

Story Tools