- This new initiative is a strategy to drive climate solutions and green industrialization across Africa.
In a move to elevate climate action as a key pillar of their bilateral relationship, Kenya and the United States have launched the US-Kenya Climate and Clean Energy Industrial Partnership.
This new initiative is a strategy to drive climate solutions and green industrialization across Africa.
“Through this partnership, the United States and Kenya prioritize cooperation across the three mutually supportive areas of clean energy deployment, clean energy supply chains, and green industrialization, said the White House.
The US and Kenya intend to work closely with financial institutions and multilateral trust funds to support these activities. The goal is to identify mechanisms to mobilize critical investments for green energy manufacturing, services and infrastructure developments in Kenya and Africa. This includes tapping into the $568 million in catalytic finance the US provided to the Clean Technology Fund just last year.
"We will strategically leverage concessional finance and risk mitigation tools at the multilateral development banks and climate funds to lower the cost of capital for clean energy projects,” the White House added.
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According to President Ruto, Africa can be part of the solution to the effects of climate change. He said that during the Africa Climate Summit of 2023, African leaders came up with a roadmap that the continent will not play victim to climate change issues.
"Africa is a rich continent with abundant assets, including the largest uncultivated arable land and the world's most renewable energy resources," Ruto emphasized during his speech.
President Ruto is on a four-day State visit to the United States of America starting May 19, 2024. Ruto's visit was aimed at strengthening bilateral ties between the two countries.
