Budget: Affordable Housing allocated Ksh 27.7 billion

The Treasury has allocated 27.7 billion for Affordable Housing Programmes in its efforts to promote the Big 4 Agenda. 

In the 2022/2023 budget read by Cabinet Secretary Ukur Yatani Thursday afternoon the proposed allocation includes Ksh 4.6 billion to Kenya Mortgage Refinance Company for construction of affordable housing as well as Ksh 1.2 billion for construction of Social Housing Units.

To support the Nairobi Metropolitan Services in reversing urban indignity in Nairobi City County, Yatani recommended Ksh 200.0 million for the Nairobi Metropolitan Services Improvement Project and Ksh 118.7 million for construction of footbridges.

In 2013 the government embarked on a plan to provide decent and affordable houses for Kenyans.

This was envisaged to create additional jobs, provide a market for manufacturers as well as suppliers and raise the contribution of real estate and construction sectors to GDP.

Other key allocation to the Housing, Urban Development and Public Works sector include Ksh 5.9 billion for the Kenya Informal Settlement Improvement Project-Phase II; Ksh 700 million for construction of markets; Ksh 1.0 billion for maintenance of government Pool Houses; Ks 1.1 for the construction of Housing Units for the National Police and Kenya Prison; 700.0 million for the Kenya Urban Programme.

In addition, an allocation of Ksh 1.2 billion to support the Nairobi Bus Rapid Project to offer efficient and time saving public transport.

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